Hasil untuk "Public finance"

T. Romer

Charles L. Ballard, J. Shoven, J. Whalley

A. Dixit, G. Grossman, E. Helpman

We develop a model of common agency with complete information and general preferences with nontransferable utility, and we prove that the principals' Nash equilibrium in truthful strategies implements an efficient action. We apply this theory to the construction of a positive model of public finance, where organized special interests can lobby the government for consumer and producer taxes or subsidies and targeted lump‐sum taxes or transfers. The lobbies use only the nondistorting transfers in their noncooperative equilibrium, but their intergroup competition for transfers turns into a prisoners' dilemma in which the government captures all the gain that is potentially available to the parties.

A. Peacock, J. Wiseman

This work examines public expenditure, explaining the size and the structure of the system of public finance. Suitable for use as a course text, it can function as a point of departure for empirical and analytical studies on the behaviour of governments.

SH Crouch, DE Mathatha, LK Micklesfield et al.

Objectives: To describe the triple burden of malnutrition among a large, school-going sample of adolescents in rural Agincourt and urban Soweto, South Africa.Design: Cross-sectional study.Setting: Schools and community centres across rural Agincourt and urban Soweto, South Africa.Subjects: 12 644 adolescents (mean age 15.5 years; 62% girls; 70.7% rural).Measures: International Obesity Task Force cut-offs were used to calculate the prevalence of underweight, healthy weight, overweight, and obesity. Haemoglobin levels were measured in Soweto to assess the prevalence of anaemia.Results: This large, population-based study reveals a high burden of malnutrition, with 34.9% of adolescents either underweight, overweight, or obese. Underweight prevalence was 14.3%, with relatively uniform distribution across sex and setting. Overweight and obesity were notably more prevalent in urban girls (32.3% and 7.0%, respectively), nearly doubling the rates observed in their rural peers (17.4% and 5.8%), and substantially higher than urban and rural boys (all < 6%). Boys consistently exhibited lower body fat percentage and fat mass index compared with girls across both settings. In a subsample of urban adolescents with haemoglobin data, anaemia was common, particularly in girls (31.6% vs. 10.2% in boys).Conclusions: These findings highlight the complexity of the burden of malnutrition in adolescence, including both under- and over-nutrition with overlapping micronutrient deficiencies.

Vineet Chouhan, Shubham Goswami

Parameters such as readability, adherence to reporting guidelines, data quality, and stakeholder dialogue are considered to assess the credibility of information in a company's annual and sustainability reports. An examination of the reliability aspect of Corporate Social Responsibility (CSR) and sustainability reports (SR) from specific companies reveals that nearly all of them present information in a clear and comprehensible format, and adhere to fundamental reporting principles, such as providing details about the time period covered. CSR reports include details about the constraints and the specific demographic the organization aims to reach. The data for the study is gathered from 280 respondents who are working as the finance/Accounting manager or financial professionals i.e., CA (Chartered Accountant), CS (Company Secretary) or (Management Accountant) ICMAI using structured questionnaire with close ended questions, who are working in the Public and private sector in India. The same is analysed with the one sample t test and multiple regression tools with the SPSS software.The results revealed that two variables Economic CSR played a key role in improving the effectiveness of policies and operational measures of CSR and Philanthropic are effectively predicting the good CSR policies and procedure in public and private sector organisation.

Zifeng Feng, Zhonghua Wu

Using recently available GRESB ESG public disclosure data for REITs around the world, we examine how ESG disclosure is related to REIT debt financing and firm value. We find that REITs with higher levels of ESG disclosure have lower cost of debt, higher credit ratings, and higher unsecured debt to total debt ratio, controlling for key firm characteristics. These findings suggest that improving ESG disclosure can help REITs to gain better access to the capital markets and enhance corporate financial flexibility, as lenders have paid close attention to a firm’s ESG disclosure and integrated evaluation of ESG factors into their lending decisions. Moreover, firm value of REITs is positively associated with their ESG disclosure level. When using the Covid-19 pandemic as a quasi-experimental setting, we find evidence that REITs with higher ESG disclosure levels before the pandemic exhibit higher firm value during the pandemic. These results indicate that investors do value active ESG disclosure by REITs. Additional analyses show that ESG disclosure level is sensitive to institutional ownership, implying that institutional investors may drive REIT ESG disclosure efforts. Taken together, this paper suggests that effective ESG disclosure can have a positive impact on REIT debt financing and firm value due to the increased corporate transparency, and the ESG reporting framework developed by GRESB appears to be effective to provide transparency and comparability across the global real estate industry.

AHMED MOHAMED MOHEY ELDEEN AL HOSAFY

ملخص البحثيهدف هذا البحث إلى مقارنة كفاءة ودقة التنبؤ بإيرادات الموارد النفطية (ORR) باستخدام نماذج الشبكات العصبية المتكررة (RNN) مثل LSTM وGRU، بالإضافة إلى نماذج السلاسل الزمنية متعددة المتغيرات. ركزت الدراسة على تحليل العلاقات بين إيرادات الموارد النفطية ومتغيرات اقتصادية مهمة تشمل إجمالي الناتج المحلي (GDP)، والاستثمار الأجنبي المباشر (FDI)، وسعر الصرف الرسمي (OER)، وإجمالي عدد السكان (TP)..تم تقييم أداء النماذج باستخدام مقاييس مثل متوسط الخطأ المطلق (MAE)، وجذر متوسط مربع الخطأ (RMSE)، ومتوسط النسبة المطلقة للخطأ (MAPE) لتحديد النموذج الأكثر دقة في التنبؤ بالقيم المستقبلية. أظهرت النتائج أن الشبكات العصبية المتكررة، ولا سيما LSTM وGRU، تفوقت في التعامل مع الأنماط غير الخطية والبيانات ذات التعقيدات الهيكلية مقارنةً بالنماذج التقليدية. أبرزت الدراسة أن نموذج LSTM يتميز بأعلى دقة للتنبؤات الزمنية المعقدة، ولكنه يتطلب وقتاً وموارد حسابية أكبر، بينما يمثل GRU بديلاً فعالاً وأقل تعقيداً، مع أداء قريب من LSTM. بناءً على هذه النتائج، أوصت الدراسة باستخدام تقنيات التعلم العميق في التنبؤ بالبيانات الزمنية الاقتصادية لتحسين دقة التوقعات المستقبلية. كما دعت الدراسة إلى الاستفادة من التحليل الإحصائي لتعزيز السياسات الاقتصادية ودعم اتخاذ القرارات المستندة إلى بيانات دقيقة. يُمكن أن تسهم هذه النتائج في تحقيق استقرار اقتصادي من خلال اعتماد أدوات تنبؤية متقدمة لمعالجة القضايا الاقتصادية والتخطيط الاستراتيجي.الكلمات المفتاحية : التنبؤ بإيرادات الموارد النفطية ، RNN ، LSTM ، GRU

عبد الله رجب الشعراوى

تُعد التوزيعات الاحتمالية من الركائز الأساسية في مجالي الإحصاء ونظرية الاحتمالات، لما لها من دورمحوري في تحليل البيانات ونمذجتها ضمن مختلف المجالات العلمية. إلا أن التوزيعات الكلاسيكية كثيرًا ما تُظهر قصورًا في تمثيل بعض أنواع البيانات والظواهر الواقعية.ومن هذا المنطلق، تهدف هذه الدراسة إلى تقدير معلمات توزيع Fréchet من خلال توسيعه باستخدام العائلة اللوجستية اللوغاريتمية الفردية، ليُنتج ما يُعرف بتوزيع Odd log-logistic Fréchet وتم الحصول على مختلف الخصائص الهيكلية للتوزيع المعمم.كما تناولت الدراسة تقدير معلمات التوزيع باستخدام خمسة طرق مختلفة، وهي: طريقة الإمكان الأعظم، طريقة المربعات الصغرى العادية، طريقة المربعات الصغرى المرجحة، وطريقة كرامر-فون-ميزس، وأخيرًا الطريقة البيزية.علاوة على ذلك، تم تطبيق النموذج المقترح على مجموعة من البيانات الحقيقية: تمثل بيانات عن فترات البقاء لمجموعة من مرضى سرطان الرئة من مختلف الفئات العمرية ممن خضعوا لعلاج ضمن بروتوكول طبي في معهد الأورام بمحافظة دمياط والتى حدثت في الفترة 1 يناير 2024 إلى 1 يناير 2025 وتُعد هذه البيانات مثالًا واقعيًا على بيانات البقاء (Lifetime Data)، بما يتماشى مع أهداف هذه الدراسة إلى تطوير توزيع يتمتع بمرونة أكبر في ملاءمة هذا النوع من البيانات، مع الحفاظ على قدرته في التكيف مع مختلف التطبيقات المعروفة لتوزيع فريشيه. وأثبتت الدراسة مرونة التعميم الجديد مقارنة ببعض التعميمات الأخرى لتوزيع فريشيه وذلك طبقا لبعض مقاييس جودة التوفيق الإحصائية.

M. Symposiu, Paige A. Clayton, M. Feldman

Yaoben Lin, Xinyu Sun, Guangyu Li

Different irrigation methods can impact the micro-ecological environment of paddy soil, affecting crop growth. This study focuses on County A, a key grain production area on China’s East Coast, where 20 plots each of intermittent and flood irrigation were selected and labeled as Group I and Group F, respectively. Soil's basic physicochemical properties and heavy metal content were measured in the laboratory, and high-throughput sequencing was used to analyze soil bacterial communities. The study evaluated the impact mechanisms of different irrigation methods on these bacterial communities. Results indicate: (1) Intermittent irrigation significantly increased bacterial richness, evenness, and diversity, enhancing microbial community diversity and stability. (2) Intermittent irrigation notably raised the abundance of 9 bacterial genera (e.g., Nitrospira, H16) while reducing the abundance of 7 genera (e.g., Geobacter, Sphingomonas). (3) The soil environment in Group I was stable, with bacterial communities influenced by SMC, pH, and Cu; Group F was affected by multiple environmental factors. Intermittent irrigation provides a stable environment that supports bacterial diversity and abundance, contributing to a richer community structure. (4) Intermittent irrigation optimizes moisture, significantly enhancing bacterial functions such as energy production, cell wall biosynthesis, repair, and signal transduction. These findings suggest that intermittent irrigation improves bacterial community stability and diversity, which is crucial for enhancing the overall quality of paddy fields.

شبيب فهد ثويني عبدالله شبيب, سعيد حسين

Abstract:This study aims to identify the reasons behind the failure of local Kuwaiti products in the local market. And why the majority of the population in Kuwait prefers foreign products over Kuwaiti products. A survey was distributed to a large group of citizens and residents in the State of Kuwait from different provinces and different ages. We found several reasons for the failure of the Kuwaiti product and its failure to obtain the best market share. The study also proposed some solutions that can help solve the problem of marketing the local product. In addition, the study reached a set of recommendations that, if implemented, will enable the local product to compete strongly with the foreign product, and it is necessary for the local producers to conduct the necessary studies to examine the purchasing trends of consumers from other nationalities, determine their priorities and needs within the income level of those categories, and introduce products that align with those characteristics through effective advertising. It is essential to focus on printed advertisements that are at the forefront of the most accessible advertising media to consumers in promoting national products from the perspective of the study sample of consumers. Therefore, it is seen as necessary for all local producers to concentrate on this advertising medium. Local producers must also intensify and repeat the display of their products in advertising media in different ways, emphasizing the maximization of the advantages of the local product such as quality f

Eduardo Cavallo, E. Borensztein, Patricio Valenzuela

Natural disasters are an important source of vulnerability in the Caribbean region. Despite being one of the more disaster-prone areas of the world, it has the lowest levels of insurance coverage. This paper examines the vulnerability of Belizes public finance to the occurrence of hurricanes and the potential impact of insurance instruments in reducing that vulnerability. The paper finds that catastrophic risk insurance significantly improves Belizes debt sustainability. In addition, the methodology employed makes it possible to estimate the appropriate level of insurance, which for the case of Belize is a maximum coverage of US$120 million per year. International organizations can play a role in assisting countries to overcome distortions in insurance markets, as well as in helping to relax internal political resistance to the purchase of insurance policies.

Eve Chiapello

Adriana Placani

Understanding prescriptive rules is important for understanding the law given that much of law is prescriptive. This work in legal philosophy aims to promote such understanding by offering an analysis of prescriptive rules. It does so by showing what these rules are and how they operate, distinguishing them from other rule types, and advancing a critical analysis of Joseph Raz’s conception of prescriptive rules. The analysis offered helps to clarify not only the nature of prescriptive rules and their treatment within legal philosophy, but also legal norms that operate by prescribing conduct.

Halil D. Kaya

In this study, we examine new loan applications made by manufacturing firms in Eastern Europe and Central Asia. We compare the pre-global crisis and post-global crisis loan applications. We find that fewer manufacturers applied for a new loan post-crisis (45.89% vs 29.91%). When we compare the main reasons for manufacturers not applying for a new loan pre- vs. post-crisis, we find that, after the crisis, more firms stated that there was no need for a loan. Also, more firms stated that application procedures were complex, interest rates were not favorable, and they did not think it would be approved. On the other hand, fewer manufacturers stated that post-crisis, collateral requirement was too high, the size of loan and maturity were insufficient, and it was necessary to make informal payments (i.e., corruption). Overall, our findings suggest that while certain aspects of financing for manufacturers improved after the crisis, others deteriorated. We also find that there was a statistically significant decrease in the percentage of manufacturers that had their financial statements checked/certified by an external auditor. Finally, post-crisis, “access to finance” was seen as a smaller obstacle by manufacturers. We conclude that the reason for fewer manufacturers applying for a new loan post-crisis was not all measures of “access to finance”; it was rather the lack of a need for a new loan and certain aspects of “Access to finance”.

Aydoğan Alti

Hamid Iranmehr, Rahmat Aazami, Jafar Tavoosi et al.

The law of free access to the transmission network obliges the transmission network to be in orbit, and on the other hand, the high loads in the transmission network, and economic uncertainties cause that the owners of transmission companies, don’t have sufficient motivation and resources to rebuild and develop the network. The main objective of this paper is the modeling the price of emergency power transmission lines in the reserve markets. This paper presents a method for calculating the reference price that a transmission line owner uses to bid on a price in excess of the nominal capacity of the transmission line under his ownership. For this purpose, first, the effects of operating a transmission line at a power greater than the rated power are described. After that, the reduction rate of the transmission line due to operation in these conditions is calculated, and finally the price determination is calculated based on the reduction rate of the generated life. In the next stage, this excess capacity is entered the two-stage model of energy market and reservation considering renewable energy sources as a price offer function. Numerical results of 6-Shin network show that the entry of renewable energy sources reduces energy costs, but the costs of the reserve market increases due to uncertainty. However, despite the emergency capacity, these costs are reduced due to the use of cheap resources in the network.

Ignacio Ibarra López, Juan Antonio Tapia Cortés

Income, social interaction and the use of financial products on insurance demand in Mexico  In the following work, data from the ENIGH (2010, 2012, 2014, 2016) and a Probit model are used to find out which are the main factors related with insurance. The aim is to test whether insurance ownership in Mexico depends on behavioral aspects such as social interaction, personal experiences (e.g. having faced an accident), as well as the use of financial products and services. Regarding originality, insurance ownership is approached through a mixed approach, which combines traditional and behavioral economics variables. Additionally, the use of microdata is promoted to understand insurance decisions at the household level. The main conclusion is that financial inclusion can lead to the development of heuristics in people who facilitate the ownership of insurance in Mexico.

Danielle Minuzzi, Nelson Guilherme Machado Pinto

Este trabalho objetiva identificar quais as melhores práticas de governança para as universidades federais da  região sul do Brasil baseado nos princípios e práticas de governança propostos pela International Federation of Accountants (IFAC) e Chartered Institute of Public Finance and Accountancy (CIPFA). O estudo abrange as onze universidades federais da região Sul do Brasil. Foi realizado checklist de verificação de três das quatro dimensões de governança propostas pelo Study 13 (IFAC, 2011) nos sítios das universidades, e aplicação de questionário aos membros dos conselhos universitários para verificação de uma quarta dimensão. Para o International Framework: Good   Governance in the Public Sector (IFAC; CIPFA, 2014) foi aplicado questionário aos membros  dos conselhos universitários. Dentre os principais resultados identificou-se um nível de aderência médio ao Study 13, e nível de aderência alto ao Framework internacional de    boa governança no setor público. As maiores forças se referem aos relatórios anuais de gestão e contábeis, importantes instrumentos  de transparência e prestação de contas das universidades federais. Quanto às maiores deficiências, nenhuma universidade conta com Comitê de Auditoria, e não foram encontrados documentos que estabeleçam a estratégia financeira. Notou-se que as universidades com maiores pontuações  em um framework obtiveram os piores resultados no outro, o que pode configurar um gap entre  a percepção do corpo de conselheiros e as práticas de governança empreendidas pelas instituições.