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  • facet.materialart.
    Publication Date: 2018-01-02
    Description: Comprehensive digitization leads to new chal-lenges because of cybercrime and related security countermeasures. There is no doubt that this will fundamentally affect our lives and is leading to an increase in the importance of information security (IS). However, technology solutions alone are not sufficient to ensure IS countermeasures. The human side of security is important to protect organizational assets like user information and systems. The paper illustrates these relationships in terms of information security awareness (ISA), examining its goals and the factors influencing it through the systematic analysis and review of scientific literature and the transfer of scientific knowledge for practical purposes. We reviewed the publications of leading academic journals in the field of IS over the past decade.
    Keywords: ddc:000 ; ddc:658
    Language: English
    Type: conferenceobject , doc-type:conferenceobject
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  • facet.materialart.
    Göttingen: Research Training Group (RTG) 1666 'GlobalFood'
    Publication Date: 2018-01-09
    Description: We analyze how agricultural extension can be made more effective in terms of increasing smallholder farmers' adoption of pro-nutrition technologies, such as biofortified crops. In a randomized controlled trial with farmers in Western Kenya, we implemented several extension treatments and evaluated their effects on the adoption of beans that were biofortified with iron and zinc. Difference-in-difference estimates show that intensive agricultural training tailored to local conditions can increase technology adoption considerably. Within less than one year, adoption of biofortified beans increased from almost zero to more than 20%. Providing additional nutrition training further increased adoption by another 10-12 percentage points, as this has helped farmers to better appreciate the technology's nutritional benefits. These results suggest that effective nutrition training through agricultural extension services is possible. Providing marketing training did not lead to additional adoption effects, although the study period may have been too short to measure these effects properly. This study is a first attempt to analyze how improved designs of agricultural extension can help to make smallholder farming more nutrition-sensitive. More research in this direction is needed.
    Keywords: C93 ; O33 ; Q12 ; Q16 ; Q18 ; ddc:330 ; agricultural extension ; technology adoption ; biofortification ; nutrition-sensitive agriculture ; Kenya
    Language: English
    Type: doc-type:workingPaper
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  • facet.materialart.
    Frankfurt a. M.: Goethe University, SAFE - Sustainable Architecture for Finance in Europe
    Publication Date: 2018-01-09
    Description: When prudential supervision was put in the hands of the European Central Bank (ECB), it was the political understanding that the ECB should follow a policy of meticulous separation between monetary policy and financial supervision. However, the financial crisis showed that monetary policy and prudential supervision deeply affect each other and that an overly strict separation might generate systemic risk. As a consequence, the prevalent model of "functional separation" - central banking and financial supervision in separate entities - has been questioned and calls for a more holistic approach increased. This policy letter states that from a legal perspective, such a holistic approach would be in conformity with the current legal framework of the Economic and Monetary Union. Although the realization of a holistic approach might intensify the doubts of democratic legitimation under the framework of the ESCB, the independence of the ECB should not be given up. As viable alternatives to protect monetary policy against the time inconsistency problem that would render central bank independence moot do not seem to be available and given the great importance of the independence of the European institutions for the European integration, the democratic control over the ECB should be strengthened instead of stripping the ECB of its independence.
    Keywords: ddc:330 ; monetary policy ; financial stability ; financial supervision
    Language: English
    Type: doc-type:report
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  • facet.materialart.
    Frankfurt a. M.: Goethe University, SAFE - Sustainable Architecture for Finance in Europe
    Publication Date: 2018-01-09
    Description: Digitalization expands the possibility for corporations to reduce taxes, mainly, but not exclusively, by allowing improved planning where profits can be shifted. Against this background, the European Commission and several countries emphatically demand and design new tax instruments. However, a selective turning away from internationally accepted principles of international taxation will bring up more questions than solutions. While there are good reasons to think about a fundamental regime switch in international corporate taxation, there are also good arguments for not turning to ad hoc measures that selectively target the relatively small market of Google and Facebook and raise only negligible tax revenues.
    Keywords: ddc:330 ; digitalization ; taxation
    Language: English
    Type: doc-type:report
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  • facet.materialart.
    Köln: Institut der deutschen Wirtschaft Köln (IW)
    Publication Date: 2018-01-12
    Description: In den letzten Jahren haben kommunale Unternehmen weiter expandiert. In einigen profitablen Bereichen, vor allem der Energiewirtschaft und der Abfallwirtschaft, stehen sie dabei in direkter Konkurrenz mit privaten Unternehmen. Zwischen dem Anfang des Jahrzehnts 2010 und 2014 (letzter verfügbarer Datenstand) ist der Umsatz in den Flächenbundesländern fast 17 Prozent oder 42,2 Milliarden auf 293,4 Milliarden Euro gestiegen.
    Keywords: ddc:330
    Language: German
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  • facet.materialart.
    Köln: Institut der deutschen Wirtschaft Köln (IW)
    Publication Date: 2018-01-12
    Description: Deutschland hat sich anspruchsvolle Klimaschutzziele gesetzt und will diese mit möglichst geringen wirtschaftlichen Kosten verwirklichen. Ein höheres Maß an Effizienz wird dann erreicht, wenn die preisgünstigen Maßnahmen zuerst umgesetzt werden, während auf teurere Maßnahmen verzichtet wird. Diese kommen erst dann zum Zuge, wenn die günstigeren Vermeidungspotenziale bereits ausgeschöpft sind.
    Keywords: ddc:330
    Language: German
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  • facet.materialart.
    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-12
    Description: While popular opinion often pictures FDI flowing in search of lowest-wage, lowest- skilled activities in emerging markets, actual FDI to such countries increasingly addresses medium to high-skilled manufacturing sectors. Such FDI might be called "Quality FDI" that contributes to the creation of decent and value-adding jobs, enhancing the skill base of host economies, facilitating transfer of technology, knowledge and know-how, boosting competitiveness of domestic firms and enabling their access to world-wide markets, as well as operating in a socially and environmentally responsible manner. To attract such quality FDI, host countries need mindfully tailored policies. Recent research offers evidence for strategies in developing countries that successfully turned FDI into such quality FDI.
    Keywords: F14 ; F16 ; O24 ; O25 ; ddc:330 ; foreign direct investment ; developing countries ; emerging countries ; industrial policy
    Language: English
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  • facet.materialart.
    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-12
    Description: Both money and debt are products of credit creation of banks. Money is always circulating among traders by facilitating commodity transactions. In contrast, debt is created by borrowing and annihilated by repayment as it is matured. However, when this creation- annihilation process is mediated by banks which are constrained by a credit capacity, there exists continuous transfer of debt among debtors, which can be defined as debt circulation. This paper presents a multi-agent model in which income determination, credit creation, and credit transaction are integrated. A hypothetical economy composed of a banking system and multiple traders is proposed, in which the traders are allowed to borrow money from the bank once their expenditure cannot be financed by their own funds. In order to demonstrate the circulations of money and debt from the micro view, the authors track the transfer processes of them and collect their holding times respectively. When the traders could afford their expenditures, only money circulation can be observed. However, as they are forced to borrow, the money circulation is accelerated and debt circulation emerges. Both distributions of holding times of money and debt are found to take exponential form due to the random nature of exchanges. The velocity of money circulation is determined by the expending behavior of traders, while the velocity of debt circulation is associated with the repayment behavior of debtors. Consequently, the aggregate income can be decomposed into two parts: one comes from money circulation and the other from debt circulation.
    Keywords: E51 ; E27 ; G21 ; ddc:330 ; money circulation ; debt circulation ; holding time distribution ; quantity theory of money
    Language: English
    Type: doc-type:workingPaper
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  • facet.materialart.
    Göttingen: Center for European, Governance and Economic Development Research, cege, Georg-August-Universität Göttingen
    Publication Date: 2018-01-12
    Description: This paper is the first to estimate the effect of two international agreements (Rotterdam Convention, RC, and the Stockholm Convention, SC) in reducing trade in hazardous substances. We estimate the effects of ratification of these agreements on imports of the affected products putting emphasis in the flows from developed countries (OECD) to developing countries (non-OECD) to capture pollution deviation. We use product level data to identify the goods subject to the conventions and the identification strategy relies on the use of difference-in-difference techniques in a panel data framework. We find that when the exporter ratifies the RC and the flow is from OECD to non-OECD countries, a significant reduction of imports in hazardous chemicals is observed after ratification. The magnitude of the effect is a cumulative decrease in imports of about 7 percent. In the case of the SC, the results show significant reductions in trade shipments from OECD to non-OECD countries in persistent organic pollutants for non-OECD importers that have ratified the convention. We observe a reduction of around 16 percent, more than double the effect found for the RC, which was expected due to the different obligations imposed by the respective conventions.
    Keywords: F13 ; F14 ; F18 ; Q53 ; Q56 ; Q58 ; ddc:330 ; hazardous chemicals ; persistent organic pollutants ; environmental agreements ; international trade ; gravity model
    Language: English
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  • facet.materialart.
    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-17
    Description: A counterexample is presented to show that the sufficient condition for one transformation dominating another by the second degree stochastic dominance, proposed by Theorem 5 of Levy (Stochastic dominance and expected utility: Survey and analysis, 1992), does not hold. Then, by restricting the monotone property of the dominating transformation, a revised exact sufficient condition for one transformation dominating another is given. Next, the stochastic dominance criteria, proposed by Meyer (Stochastic dominance and transformations of random variables, 1989) and developed by Levy (1992), are extended to the most general transformations. Moreover, such criteria are further generalized to transformations on discrete random variables. Finally, the authors employ this method to analyze the transformations resulting from holding a stock with the corresponding call option.
    Keywords: C51 ; D81 ; ddc:330 ; stochastic dominance ; transformation ; utility theory ; option strategy
    Language: English
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  • facet.materialart.
    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-17
    Description: Understanding what moves the Phillips curve is important to monetary policy. Because the Phillips curve has experienced over time movements similar to those characterizing the Beveridge curve, the authors jointly analyze the two phenomena. They do that through an agent-based macro model based on adaptive micro-foundations, which works fairly well in replicating a number of stylized facts, including the Beveridge curve, the Phillips curve and the Okun curve. By Monte Carlo experiments they explore the mechanisms behind the movements of the Beveridge curve and the Phillips curve. They discovered that shifts of the Beveridge curve are best explained by the intensity of worker reallocation. Reallocation also shifts the Phillips curve in the same direction, suggesting that it may be the reason behind the similarity of the patterns historically recorded for these two curves. This finding may shed new light on what moves the Phillips curve and might have direct implications for the conduction of monetary policy.
    Keywords: C63 ; D51 ; E31 ; J30 ; J63 ; J64 ; ddc:330 ; Beveridge curve ; Phillips curve ; labor market dynamics ; agent-based simulations ; sensitivity analysis
    Language: English
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  • facet.materialart.
    São Carlos: Universidade Federal de São Carlos
    Publication Date: 2018-01-19
    Description: Economic growth is not the unique factor to explain human development. Due to that many authors have prioritized studies to measure the Human Development Index. However, these indices do not analyze how Economic Complexity can increase Human Development. The aim of this paper is to determine the efficiency of a set of nations from Latin America and Asia, to measure a country’s performance in converting Economic Complexity into Human Development, between 2010 and 2014. The method used was Data Envelopment Analysis (DEA), through the Variable Returns of Scale (VRS) Model and Window Analysis. Results showed in 2014, all Asian countries were efficient except China and the Philippines, and Cuba was the benchmark for inefficient countries. Window Analysis showed Japan, Republic of Korea and Singapore were efficient over time. This result confirms the initial hypothesis of this article: the more complex countries are more efficient in generating Human Development.
    Description: Article accepted for publication in the journal Gestão & Produção.
    Description: O crescimento econômico não é o único fator que explica o desenvolvimento humano. Neste aspecto, índices sobre a qualidade de vida têm sido recorrentes na literatura. Entretanto, estes índices não analisam como a complexidade econômica é convertida em desenvolvimento humano. O objetivo deste artigo é mensurar a eficiência dos países latino americanos e asiáticos em converter complexidade econômica em desenvolvimento humano, entre 2010 e 2014. O método utilizado foi o Data Envelopment Analysis (DEA), por meio do modelo de Retornos Variáveis à Escala (BCC) e Análise de Janela. Os resultados demonstraram que, em 2014, todos os países asiáticos foram eficientes, exceto a China e Filipinas. Neste ano, Cuba foi o país que mais serviu de benchmark para os países ineficientes. A análise em janela demonstrou que apenas Japão, Coréia do Sul e Singapura se mantiveram eficientes ao longo do tempo. Este resultado confirma a hipótese inicial deste artigo: economias mais complexas são mais eficientes em gerar desenvolvimento humano.
    Keywords: O15 ; O32 ; ddc:330 ; Data Envelopment Analysis (DEA) ; Window Analysis ; Economic Complexity ; Human Development
    Language: English
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  • facet.materialart.
    São Paulo: Pontifícia Universidade Católica de São Paulo
    Publication Date: 2018-01-19
    Description: This paper presents the analysis of the results of the National Program for Professional Qualification - PNQ in Piracicaba/Sao Paulo - Brazil. It analyzed the impact of PNQ on the income of workers. The Theory of Human Capital is presented as a suitable theoretical basis. We used econometric method "diffs-in-diffs", which compares the income of a group of skilled workers with others who did not attend the program. It proved to be rise in income and increased formalization of skilled workers. It was proved the viability of public policy professional qualifications in the municipality.
    Description: Article accepted for publication in the journal Pesquisa & Debate.
    Description: Este trabalho apresenta os resultados da análise do Programa Nacional de Qualificação Profissional – PNQ em Piracicaba/SP. Analisou-se o impacto do PNQ sobre a renda dos trabalhadores. A Teoria do Capital Humano se apresentou como embasamento teórico adequado, ressaltando a importância do treinamento na vida dos trabalhadores. Utilizou-se método econométrico “diffs-in-diffs”, que compara a renda de um grupo de trabalhadores qualificados com outro que não frequentou o programa. Comprovou-se elevação na renda e aumento da formalização dos trabalhadores qualificados. Destacou-se a importância da participação de outros agentes sociais. Ficou comprovada a viabilidade da política pública de qualificação profissional no município.
    Keywords: I26 ; I28 ; ddc:330 ; Professional qualification ; Income ; Difference in Differences Method ; Econometrics
    Language: English
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  • facet.materialart.
    Kiel und Hamburg: ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
    Publication Date: 2018-01-19
    Description: The major objective of this paper is to demonstrate, theoretically and empirically, the test of a single structural break/change. Failure to address a structural break can lead to forecasting errors and the general unreliability of a model. Three approaches of testing for structural change are discussed using data from Johnston et al. (1997, p.130) on Stata 14 software. The first approach assesses whether there is a structural break in parameters (slope and intercept) while the second and third assess whether there is a break in slope and intercept respectively. The Residual Sum of Squares (RSS) for the restricted and unrestricted models are established to necessitate the use of an F-test in making inferences. According to the first approach, a structural break exists at 5% level of significance. This result is confirmed by the Chow test. The second and third approaches establish that the structural break is from the intercept and not the slope. These results are also affirmed by the Chow test. Furthermore, all these results, from the first to the third approach, are confirmed by an alternative approach which relies on the knowledge that . Therefore, the dependent variable is not affected by the policy change on the explanatory variable but it is mainly affected by the basic unobserved qualitative characteristics of the two sub-periods. For further analysis, it is recommended that a unit root test be conducted using the Zivot-Andrews test. This test has been established as the panacea for the interplay between unit root and structural changes.
    Keywords: C01 ; C52 ; C80 ; C87 ; ddc:330 ; Structural Break ; chow test ; Zivot-Andrews Test ; Unit Root
    Language: English
    Type: doc-type:preprint
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  • facet.materialart.
    North York: Canadian Center of Science and Education
    Publication Date: 2018-01-19
    Description: Empirical evidence suggests that capital structure varies across firms facing different levels of information asymmetry, however, this evidence contradict the prediction of pecking order hypothesis. Although debt capacity constraints offer some explanation for this discrepancy, it fails to explain the behavior of small high growth firms who do not issue debt even with no debt capacity constraints. Against this backdrop, this study investigated the effects of financial constraints on firm capital structure in Kenya. This was implemented by interacting a financial constraints dummy with the right-hand side variables of pecking order test equation to allow for any variation of capital structure across financial constraints regimes. The results show that constrained firms use less internal funds and have less cash than unconstrained firms. Pecking order theory was not supported. However, allowing financial constraints regimes in pecking order equation improved the fit of the model and produced results that are consistent with pecking order prediction. Financing behavior varies with financial constraints status. The wider the wedge between the cost of debt and the opportunity cost of internal funds, the higher the value transferred to debt-holders and the lower the debt utilization. To improve firm access to capital, policies should be geared towards reducing the wedge between the cost of external and internal funds.
    Keywords: D82 ; D92 ; E22 ; G31 ; G32 ; G33 ; L60 ; ddc:330 ; financial constraints ; manufacturing ; investment ; capital structure ; Kenya
    Language: English
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  • facet.materialart.
    Kiel und Hamburg: ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
    Publication Date: 2018-01-19
    Description: We test a sample of 3,586 banks from 33 European countries to determine whether performances above or below a social aspiration level (median performance of peer banks) influence banks’ aggregate risk levels. Our results are consistent with the behavioral theory of the firm and prospect theory in that we find that bank performance below a bank’s social aspiration level is followed by increased aggregate risk, i.e., risk-taking behavior in the subsequent year. Although under-performing banks tend to be risk-takers, large banks and banks with high aggregate risk levels tend to limit the increase in their aggregate risk levels.
    Keywords: D22 ; G2 ; G41 ; L22 ; L25 ; ddc:330 ; social aspiration ; European banks ; performance ; risk behavior ; prospect theory
    Language: English
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  • facet.materialart.
    Basel: MDPI AG
    Publication Date: 2018-01-19
    Description: (1) Background: Big brewers, which have experienced declining sales for their beer brands in the last decade, have been accused of “craftwashing” by some craft brewers and their aficionados—they define craftwashing as big brewers (>6 million barrels per year) taking advantage of the increasing sales of craft beer by emulating these products or by acquiring craft breweries, while also obscuring their ownership from consumers; (2) Methods: To estimate the prevalence of these practices, the ownership of U.S. mainstream and craft beer brands was decoded and visualized. In addition, an exploratory case study analyzed how these ownership relations are represented in the craft sections of selected retailers (n = 16) in the Lansing, Michigan metropolitan area; (3) Results: By October 2017 in the U.S., all but one big brewer had either acquired a craft brewery, or formed a distribution alliance with one—without disclosing these relationships on the packaging. In the study area, 30% of 4- and 6-pack facings recorded in craft beer sections (n = 1145) had ownership ties to big brewers; (4) Conclusions: Craftwashing is common in the U.S. beer industry, and this suggests consumers must exert substantial effort to become aware of their own role in reinforcing these practices.
    Keywords: ddc:330 ; craft beer ; food industry ; strategic sabotage ; capital as power
    Language: English
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  • facet.materialart.
    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2018-01-18
    Description: Wachstumsmotor der Bauwirtschaft war in den letzten Jahren der Wohnungsneubau. Auch 2018 und 2019 wird das Neubauvolumen hier weiter zulegen. Allerdings dürfte der Aufwuchs stark an Dynamik verlieren und der Boom der vergangenen Jahre damit ein Ende finden. Nach Jahren der kräftigen Ausweitung von teilweise mehr als zehn Prozent erwartet das DIW Berlin in den kommenden zwei Jahren deutliche geringere Zuwachsraten. Unter Berücksichtigung der anziehenden Preissteigerungen sinken die realen Wachstumsraten auf nur ein Prozent. Das Ende des Wohnungsneubaubooms kann voraussichtlich auch nicht durch die zusätzlichen Impulse im Nichtwohnungsneubau kompensiert werden. Verstärkt in den Blickpunkt rücken somit wieder Baumaßnahmen im Gebäudebestand. Spätestens 2019 dürften die Bestandsmaßnahmen schneller wachsen als der Neubau. In nominaler Rechnung erwartet das DIW Berlin Zuwächse bei den Bestandsmaßnahmen im Wohnungsbau von rund 7,5 und beim Nichtwohnungsbau von 3,5 Prozent. Die höhere Dynamik bei den Bestandsmaßnahmen trägt auch in Hinblick auf die energetische Gebäudesanierung den Klimazielen Rechnung. Dem absehbaren Ende des Neubaubooms sollte die Politik angesichts der angespannten innerstädtischen Wohnungsmärkte entgegenwirken und Anreize zur Innenentwicklung und Nachverdichtung setzen sowie mit Investitionszulagen in Stadtentwicklungsgebieten den Bau zusätzlichen Wohnraums unterstützen.
    Keywords: E32 ; E66 ; ddc:330 ; construction industry ; residential construction ; public infrastructure ; economic outlook
    Language: German
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2018-01-18
    Description: Der Frauenanteil in den Vorständen und Aufsichtsräten der 100 größten Banken in Deutschland ist im vergangenen Jahr jeweils leicht auf knapp neun beziehungsweise 23 Prozent gestiegen. Bei den 60 größten Versicherungen ist die Dynamik hingegen zum Erliegen gekommen: In beiden Gremien ging der Frauenanteil etwas zurück, auf gut neun beziehungsweise knapp 22 Prozent. Das DIW Berlin untersucht seit mittlerweile mehr als zehn Jahren, inwieweit Frauen in den Spitzengremien von Banken und Versicherungen vertreten sind. Einer Phase der Stagnation in den Jahren 2006 bis 2010 folgte anschließend bis 2014/2015 eine Zeit dynamischerer Zuwächse, bevor es anschließend größtenteils wieder langsamer bergauf ging. Eine lineare Fortsetzung der durchschnittlichen Entwicklung der vergangenen elf Jahre erscheint unwahrscheinlich, da die meisten Finanzunternehmen nach Erreichen der 30-Prozent-Zielmarke den Frauenanteil in Aufsichtsräten nicht weiter steigern. Forcieren könnte die Entwicklung eine Änderung der Unternehmenskultur. Hierzu gehören ambitionierte Ziele für mehr Frauen in Führungspositionen - auch unterhalb des Vorstands - und deren zeitnahe Umsetzung sowie eine modernere Unternehmensorganisation. So könnten neue Vorbilder entstehen und Geschlechterstereotypen abgebaut werden.
    Keywords: G2 ; J16 ; J78 ; L32 ; M14 ; M51 ; ddc:330 ; board composition ; board diversity ; boards of directors ; central banks ; corporate boards ; Europe ; finance industry ; financial sector ; female directors ; Gender gap ; gender equality ; gender quota ; Germany ; insurance companies ; management ; public and private banks ; supervisory boards ; women CEOs
    Language: German
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2018-01-18
    Description: Die Geschlechterquote für Aufsichtsräte in Deutschland greift: In den Kontrollgremien der gut 100 Unternehmen, die an die Quote gebunden sind, ist der Frauenanteil bis Ende 2017 auf durchschnittlich gut 30 Prozent gestiegen - das waren knapp drei Prozentpunkte mehr als im Jahr zuvor. Fast zwei Drittel der Unternehmen hatten mindestens 30 Prozent Frauen im Aufsichtsrat. In der Gruppe der umsatzstärksten 200 Unternehmen, in denen der Frauenanteil im Aufsichtsrat Ende vergangenen Jahres im Durchschnitt bei knapp einem Viertel lag, war dies hingegen nur bei 37,5 Prozent der Unternehmen der Fall. Auch ein europäischer Vergleich zeigt, dass Quotenregelungen wirken - insbesondere, wenn Sanktionen drohen. Für Vorstände gibt es in Deutschland bislang keine Geschlechterquote. Dort herrscht mittlerweile beinahe Stillstand: In den 200 umsatzstärksten Unternehmen lag der Anteil der Vorständinnen Ende 2017 weiterhin bei rund acht Prozent. Um nachhaltig mehr Frauen in Vorstände zu bringen, sollten die Unternehmen im eigenen Interesse ihren Pool potentieller Kandidatinnen zügig auf- und ausbauen. Diesen Erneuerungsprozess sollte die nächste Bundesregierung durch bessere Rahmenbedingungen unterstützen. Dazu zählt gegebenenfalls, die bislang freiwilligen Vorgaben für Frauen in hohen Führungspositionen zu verschärfen.
    Keywords: D22 ; J16 ; J59 ; J78 ; L21 ; L32 ; M14 ; M51 ; ddc:330 ; corporate boards ; board composition ; boards of directors ; board diversity ; Europe ; women directors ; gender equality ; gender quota ; Germany ; management ; private companies ; public companies ; supervisory boards ; executive boards ; CEOs ; women
    Language: German
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2018-01-18
    Keywords: ddc:330
    Language: German
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2018-01-18
    Keywords: ddc:330
    Language: German
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2018-01-18
    Description: Erstmals in Deutschland wird die Einkommensverteilung über einen Zeitraum von rund 140 Jahren präsentiert. Über alle politischen und wirtschaftlichen Turbulenzen des 20. Jahrhunderts hinweg hat sich vor allem der Einkommensanteil der Top-Zehn-Prozent wenig verändert: Auf Basis von Steuerdaten lag er sowohl 1913 als auch 2013 bei rund 40 Prozent des Volkseinkommens. Der Anteil des Top-Ein- Prozents war mit 13 Prozent im Jahr 2013 hingegen niedriger als vor 100 Jahren, als dessen Anteil noch 18 Prozent betrug. Beide Gruppen haben aber seit der Nachkriegszeit deutlich zulegen können. In den vergangenen Jahrzehnten hat vor allem die untere Hälfte der Bevölkerung verloren: Erhielt sie 1960 noch mehr als 30 Prozent des Volkseinkommens, waren es 2013 nur noch 17 Prozent (vor Steuern und staatlichen Transferleistungen). Während sich in den siebziger und achtziger Jahren vergleichsweise wenig in der Einkommensverteilung der alten Bundesrepublik änderte, steigt seit der Wiedervereinigung die Einkommenskonzentration in Deutschland.
    Keywords: D31 ; I31 ; I32 ; ddc:330 ; top incomes ; inequality ; concentration ; income tax records
    Language: German
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2018-01-18
    Keywords: ddc:330
    Language: German
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2018-01-18
    Keywords: ddc:330
    Language: German
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    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-20
    Description: We live in the plastic age (the "plasticene"), producing over 300 million tonnes (mt) of plastic every year globally, 5-15 mt of which flow into already polluted oceans. Plastic remains a key material in the global economy, but low rates of collection, reuse and recycling, emissions of microplastic from product wear and tear, and often insufficient disposal measures are leading to far-reaching environmental, health, social and economic impacts. The costs of inaction are unacceptably high. Globally there is a growing recognition of the need to address marine litter and rethink our approach to plastics and plastic packaging within the economy. Measures that enable a transition to a circular economy can avoid waste and reduce marine litter, and contribute to keeping plastics and their value in the economy.
    Keywords: E23 ; F53 ; Q01 ; Q20 ; Q52 ; Q53 ; Q57 ; L65 ; ddc:330 ; G20 ; circular economy ; plastics ; marine pollution
    Language: English
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    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-20
    Description: In this paper, the authors analyze the differences in piracy rates from one country to another. Like previous papers on the topic, they find that more developed countries have lower incentives for pirating. Unlike previous papers, they find that the piracy rate is positively correlated with the tax burden rate but negatively correlated with the domestic market size and exports over GDP. The authors also separate the impacts of education and R&D on piracy, and find two effects with opposite signs. Moreover, they find that those countries with smaller, more efficient bureaucracies are likely to protect intellectual property more effectively. Finally, they show that the spread of access to the Internet is negatively correlated with the software piracy rate.
    Keywords: K42 ; L86 ; O3 ; O57 ; ddc:330 ; piracy rate ; education ; R&D ; quality bureaucracies ; intellectual property ; internet
    Language: English
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    Trier: University of Trier, Institute for Labour Law and Industrial Relations in the European Union (IAAEU)
    Publication Date: 2018-01-20
    Description: Income inequality in the context of large structural change has received a lot of attention in the literature, but most studies relied on household post-transfer inequality measures. This study utilizes a novel and fairly comprehensive collection of micro data sets from between 1980's and 2010 for both advanced market economies and economies undergoing transition from central planning to market based system. We show that wage inequality was initially lower in transition economies and immediately upon the change of the economic system surpassed the levels observed in advanced economies. We find a very weak link between structural change and wages in both advanced and post-transition economies, despite the predictions from skill-biased technological change literature. The decomposition of changes in wage inequality into a part attributable to changes in characteristics (mainly education) and a part attributable to changes in rewards does not yield any leading factors.
    Keywords: E24 ; D31 ; N34 ; O57 ; P36 ; P51 ; ddc:330 ; wage inequality ; structural change ; transition ; skill biased technological change
    Language: English
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    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-20
    Description: The purpose of this study is to explore the effects of exogenous social security system parameters on welfare. The set up is an overlapping generations economy, with skills heterogeneity, which distinguishes consumers between high and low skilled. The lowskilled receive an extra supplement pension. The social security system has three exogenous parameters: the benefits, the contributions, and the funding parameter. The author examines and compares the effects of these three exogenous social security parameters, first under inelastic and then under elastic labor supply, on individuals welfare. He finds that when labor supply is inelastic, the parameters affect differently the welfare of the high and the low-skilled, since for the latter, we must also take into account the indirect effects through the supplement pension provision. When labor supply is elastic, the effects of changes in the social security parameters on welfare are the same for both the high and the low skilled, as in the case of inelastic labor supply.
    Keywords: D11 ; E21 ; H55 ; ddc:330 ; social security ; pensions ; PAYGO ; funded systems ; welfare ; skills heterogeneity
    Language: English
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    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-20
    Description: Over the last three decades, Spanish female labor force participation (LFP) has tremendously increased, particularly, that of married women. At the same time, the income tax structure, the fiscal treatment of families, policies to reconcile family and work, and the education distribution of married couples have substantially changed. By contrast, the gender wage gap has remained quite stable. In this paper the author investigates the relevance of these factors in accounting for the growth in Spanish married women labor force participation from 1994 to 2008. For that purpose, she uses Kaygusuz (Taxes and female labor supply, 2010) model of household labor market participation, and data from Eurostat to calibrate the model and evaluate its performance. The model successfully accounts for the rise in aggregate female labor force participation, and matches hours worked by males and females. The model is also able to replicate the pattern of female labor force participation by age and education. From this analysis we can conclude that changes in tax rates and in the education distribution are the main factors behind the increase in female LFP during the late nineties, while changes in child care costs and earning profiles are mainly responsible for the subsequent growth in the 2000s.
    Keywords: J11 ; J12 ; J13 ; J22 ; J31 ; ddc:330 ; female labor force participation ; gender wage gap ; income tax ; educational distribution ; wage profiles ; child care costs
    Language: English
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    Trier: University of Trier, Institute for Labour Law and Industrial Relations in the European Union (IAAEU)
    Publication Date: 2018-01-20
    Description: We explore data from all transition economies over nearly two decades, providing insights on the mechanisms behind labor force reallocation. We show that worker flows between jobs in different industries are rare relative to the demographic flows of youth entry and elderly exit. The same applies to the flows between state-owned enterprises and private firms. In fact, evidence suggest that changes in the demand for labor were accommodated mostly through demographic flows, with a smaller role left for job transitions. We also show that the speed of changing the ownership structure in the economy has driven exits to retirement, in particular the early exits.
    Keywords: P2 ; P5 ; D2 ; J6 ; ddc:330 ; hirings ; separations ; transition ; worker flows ; unemployment ; retirement
    Language: English
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    Bamberg: Bamberg Economic Research Group, Bamberg University
    Publication Date: 2018-01-20
    Description: We develop a model in which investors can participate in stock, bond and housing markets. Investors' market entry decisions are subject to herding effects and depend on the markets' price trends and on their mispricings. The dynamics of our model is governed by a four-dimensional nonlinear map and its unique inner steady state is characterized by standard present-value relations between dividends, rents and the bond rate. Amongst other things, we show that endogenous stock and housing market dynamics emerge, countercyclical to each other, if investors react strongly to the markets' price trends. Such a cross feedback reflects investors' tendency to transfer their enthusiasm from one speculative market to another.
    Keywords: D84 ; G12 ; R21 ; ddc:330 ; stock markets ; housing markets ; bond markets ; bounded rationality ; market interactions ; nonlinear dynamics
    Language: English
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    Warsaw: Transformation, Integration and Globalization Economic Research (TIGER)
    Publication Date: 2018-01-20
    Keywords: ddc:330
    Language: English
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    Oxford: Oxford University Press
    Publication Date: 2018-01-20
    Description: When are developing countries able to initiate periods of rapid growth and why have so few of these countries been able to sustain growth over decades? Deals and Development: The Political Dynamics of Growth Episodes seeks to answer these questions and many more through a novel conceptual framework built from a political economy of business–government relations. Economic growth for most developing countries is not a linear process. Growth instead proceeds in booms and busts, yet most frameworks for thinking about economic growth are built on the faulty assumption that a country’s economic performance is largely stable. Deals and Development explains how growth episodes emerge and when growth, once ignited, is maintained for a sustained period. It applies its new framework to examining the growth of countries across a range of institutional and political contexts in Africa and Asia, using the examples of Bangladesh, Cambodia, India, Malaysia, Thailand, Ghana, Liberia, Malawi, Rwanda, and Uganda. Through these country analyses it demonstrates the explanatory power of its framework and the importance of feedback cycles in which economic trends interact with political behaviour to either sustain or terminate a growth episode. Offering a lens through which to analyse complex scenarios and unwieldy amounts of information, this book provides actionable levers of intervention to bring around reform and improve a country’s chance at achieving transformative economic growth.
    Keywords: ddc:330 ; economic growth ; political settlements ; deals environment ; rent space ; structural transformation ; policy
    Language: English
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    Berlin: De Gruyter | ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft Kiel, Hamburg
    Publication Date: 2018-01-23
    Description: This paper explores the e ffects of fi scal policy in an economy based on indirect taxes, and one that is constrained to taxing all (labor and capital) income at the same rate. The focus of the paper is on the relative importance of consumption vs. income taxation, as well as on the provision of utility-enhancing public services. To this end, a Real-Business-Cycle model, calibrated to Bulgarian data (1999-2014), was set up with a richer public finance side. Bulgarian economy was chosen as a case study due to its major dependence on consumption taxation as a source of tax revenue. To illustrate the e ffects of fiscal policy, two regimes were compared and contrasted to one another - exogenous vs. optimal (Ramsey) policy case. The main fi ndings from the computational experiments performed are: (i) The optimal steady-state (capital and labor income) tax rate is zero, as it is the most distortionary tax to use; (ii) The optimal steady-state consumption tax (the only source of revenue) has to almost double to finance the optimally-set level of government purchases.
    Keywords: D58 ; ddc:330 ; consumption tax ; income tax ; general equilibrium ; fiscal policy
    Language: English
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    Bonn: Institut für Mittelstandsforschung (IfM) Bonn
    Publication Date: 2018-01-23
    Description: Young firms are known to grow at a faster rate than incumbents. With administrative firm data from Germany, we show that the higher growth rates indeed translate into upward mobility within the firm size distribution. Young firms are therefore not only able to catch up, but also to grow larger in absolute values. Recentered influence function regression results reveal that young firms cause significant rank mobility within the stock of firms, which even holds when the local skewness of the firm size distribution is accounted for. The results clearly indicate a Schumpeterian growth process where young firms challenge established ones.
    Description: Es ist bekannt, dass junge Unternehmen höhere Wachstumsraten aufweisen als etablierte. In diesem Beitrag wird mit Hilfe administrativer Daten dargelegt, dass die höheren Wachstumsraten auch zu Veränderungen in der Unternehmensgrößenverteilung führen: Die Umsätze junger Unternehmen nähern sich nicht nur von unten denen von bestehenden Unternehmen an, sondern mitunter überholen die jungen Unternehmen auch die Etablierten. So wachsen aufsteigende Unternehmen sehr stark, während Absteiger deutliche Umsatzeinbußen erleiden. Dies deutet auf einen Schumpeterschen Wachstumsprozess hin, bei dem junge Unternehmen die Bestandsunternehmen herausfordern. Diese Ergebnisse bestätigen sich auch mit Hilfe von multivariaten Schätzungen. Junge Unternehmen führen folglich zu einem Wandel, von dem nicht alle Unternehmen profitieren. Mitunter schrumpfen Bestandsunternehmen, weil neue Unternehmen den Markt betreten.
    Keywords: L10 ; L25 ; L26 ; ddc:330 ; competition ; entrepreneurship ; firm entry ; firm growth ; sales mobility
    Language: English
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    Kiel, Hamburg: ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
    Publication Date: 2018-01-23
    Description: This study investigates how West German spouses have responded by adjusting their time allocation to the alimony reform introduced in 2008. This reform imposed financial self-responsibility after a finalized divorce. It weakened the relative bargaining position of the spouse with a claim for maintenance in the case of a potential divorce prior to the law change. Therefore, the present study helps to verify bargaining models by considering the 2008 policy change as a shift of spousal bargaining power. Estimating difference-in-differences models I find that, indeed, wives who face a potential low alimony loss might have increased their working hours as a result of the 2008 reform. To my knowledge, the present investigation is the first analysis of the behavioral response of individuals in longer marriages to the 2008 reform. Its approach to identifying those who have been (dis)advantaged by this reform is a new one, proposing a method that reflects the realities of alimony arrangements in Germany.
    Keywords: D13 ; J12 ; J13 ; J22 ; K36 ; ddc:330 ; Alimony ; Family ; Bargaining ; Institutional change ; Labor supply ; Time allocation
    Language: English
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    Göttingen: Research Training Group (RTG) 1666 'GlobalFood'
    Publication Date: 2018-01-24
    Description: In the absence of formal financial markets many poor households rely on the mutual exchange of transfers within informal risk sharing networks to protect themselves against adverse events. In this paper we present a model that explains the impact of formal insurance on informal risk sharing and, subsequently, the dynamics of other-regarding preferences. We test the predictions of the model using a solidarity game with rural households in Mexico. Consistent with the model predictions, we find that when shocks are collective, there is a crowding-out effect on transfers and a decrease in trust on insured participants. However, when shocks are idiosyncratic, we fail to confirm the predictions of the model. Transfers to non-insured members are significantly higher when insurance is available to some of the network members than in a control treatment when insurance is not available. This unexpected crowding-in effect on transfers leads to an increase in trust among non-insured participants. These findings suggest that there is a need to find optimal insurance designs that minimizes the crowding-out effect of formal insurance on informal risk sharing and other-regarding preferences.
    Keywords: ddc:330
    Language: English
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    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-24
    Description: The authors propose a policy compact to achieve more inclusive growth in G20 countries so that economic growth regains the ultimate sense of improving all people's lives. Guiding principles are: 1) prosperity is not just about income but about all relevant outcomes of well-being and capabilities to overcome the initial social disadvantage; 2) it is also about including people in participatory decision-making to enhance their dignity and control over their lives; 3) excluding people from reaping the benefits of growth will thwart social cohesion and well-being; 4) integrated policy approaches are needed to achieve inclusive growth, across policy domains and between national and global actions, including responsible management of migratory movements. Concrete policy actions are described that span education, labor, fiscal instruments, public and private governance.
    Keywords: D63 ; O40 ; E60 ; ddc:330 ; inclusive growth ; social cohesion ; inequalities ; well-being
    Language: English
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    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-24
    Description: The authors recommend that the G20 target innovative green-technology SMEs as an opportunity to promote financial de-risking while addressing Paris Agreement commitments and UN Sustainable Development Goals. This should be achieved by creating signals for private investors through: (1) a reporting system that can help monitor the scale-up of green-technology SMEs; (2) the use of public funds to signal innovative green-technology SMEs to investors; and (3) the inclusion of SMEs in the design of green finance platforms. By implementing these recommendations, the G20 will ensure that innovative, low-carbon SMEs become attractive, low(er)-risk investment opportunities for the private sector.
    Keywords: O31 ; Q55 ; Q58 ; E60 ; ddc:330 ; innovation ; green technology ; eco-efficiency ; SMEs ; financial de-risking
    Language: English
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: In this paper, we make an attempt to understand whether low labour market returns to education in India are responsible for low female work participation. The National Sample Survey Office (NSSO) Employment Unemployment Survey (EUS) unit level data of India for the year 2011-12 is used to examine the relationship between educational attainment and labour market participation through gender lens. Results show that women’s education has a U-shaped relationship with paid work participation. The probability to participate in the paid labour market shows an increasing trend with education levels higher than compulsory secondary schooling. The labour market returns to education are insignificant and low for lower levels of education. The returns increase significantly along with the increase in educational levels. However, females have a significant lower rate of return for each year of education as compared to men in rural and urban labour markets as well. Though it has been said that increase in female enrolment in schooling is one of the reasons of the recent declining phenomenon of female participation, but our study shows that the low returns to education is another reason for their less participation. The findings therefore suggest that, women need to be educated above secondary level to become visible in the labour market.
    Keywords: J16 ; J21 ; J82 ; O12 ; O15 ; ddc:330 ; female labour force participation ; market returns to education ; development ; India
    Language: English
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    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-24
    Description: In light of the surge in large-scale farms in developing countries, concerns have been raised that smallholders may be negatively affected. There is, however, very little evidence beyond case studies to support these claims. Drawing on nationally representative household data sets and an inventory of large-scale farms in Zambia, this study investigates the relationship between large-scale farms and smallholders. First, we analyse the geographical contexts of wards that host large-scale farms and show that large-scale farms are found in wards with good infrastructure and soil quality. Second, we adopt a difference-in-differences approach to estimate the impacts of large-scale farms on smallholders' area cultivated, maize yields, and access to fertiliser. We find that smallholders in wards with large-scale farms increase their area cultivated and maize yields, but have lower fertiliser usage. This hints at positive spillovers at the extensive and intensive margins but not at improved access to agricultural inputs. It is likely that these results are also driven by the emergence of medium-scale farms in these regions.
    Keywords: Q12 ; Q15 ; Q18 ; ddc:330 ; large-scale farms ; yields ; smallholders ; spillovers ; Zambia
    Language: English
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: There have been significant changes in both the fertility rates and fertility perception since 1970s. In this paper, we examine the relationship between government policies towards fertility and the fertility trends. Total fertility rate, defined as the number of children per woman, is used as the main fertility trend variable. We use panel data from the United Nations World Population Policies database, and the World Bank World Development Indicators for the period 1976 through 2013. We find significant negative association between a country’s fertility rate and its anti-fertility policy. On the other hand, there is no significant and robust relationship between the fertility rate and a country’s pro-fertility or family-planning policies. In addition we find evidence of spatial autocorrelation in the total fertility rate, and spatial spillovers from government’s policy on fertility.
    Keywords: H10 ; H59 ; J11 ; J13 ; J18 ; ddc:330 ; fertility rate ; population ; government policies
    Language: English
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: This paper presents a new model of the household that is able to explain a variety of consumption patterns that existing models cannot describe, most notably, those associated with the Deaton and Paxson (1998) paradox. The most distinctive feature of this model is the presence of common-pool goods (rival and non-excludable) previously ignored in the literature. Under regularity conditions, the model can be interpreted as a hybrid between non-cooperative and a collective models of the household. Empirically, the paper revisits the Deaton-Paxson paradox exploiting household splits in longitudinal data and computes the elusive indifference scales coefficients.
    Keywords: D13 ; J12 ; O15 ; ddc:330 ; sharing model ; collective model ; intra-household allocation ; Deaton-Paxson paradox ; household economies of scale ; indifference scales
    Language: English
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: We examine the high levels of financial stress among Indigenous populations in Australia. We estimate separate models for the determinants of financial stress for Indigenous and non-Indigenous households and show the importance of separately considering Indigenous disadvantage. We use these models to build equivalence scales for both groups. We find evidence consistent with financial stress being exacerbated by demand-sharing (“humbugging”). The evidence also suggests that financial stress is reduced by engagement in traditional hunting and gathering activities.
    Keywords: I31 ; I32 ; J15 ; ddc:330 ; financial stress ; hardship ; cashflow ; equivalence scales ; Indigenous poverty
    Language: English
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: The aim of this research is to build on a theory for explaining economic development in a (neoclassical) growth model with endogenous fertility. The economy is comprised of overlapping generations of rational and identical individuals and identical competitive firms producing with a constant-returns-to-scale technology with no externalities. From a theoretical perspective, the distinguishing feature of this work is that endogenous fertility per se is able to explain the existence of low and high development regimes. It provides alternative reasons (history driven or expectations driven) why some countries enter development trajectories with high GDP and low fertility and others experience under-performances with low GDP and high fertility. The model is also able to reproduce fertility fluctuations and explain the baby busts and baby booms observed in the last century in some developed countries.
    Keywords: C61 ; C62 ; J1 ; J22 ; O41 ; ddc:330 ; Economic development ; Endogenous fertility ; Local and global indeterminacy ; OLG model
    Language: English
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: This paper takes advantage of access to detailed matched bank-firm data to investigate whether and how employment decisions of SMEs have been affected by credit constraints in the wake of the Great Recession. Variability in banks’ financial health following the 2008 crisis is used as an exogenous determinant of firms’ access to credit. Findings, relative to the Belgian economy, clearly highlight that credit matters. They show that SMEs borrowing money from pre-crisis financially less healthy banks were significantly more likely to be affected by a credit constraint and, in turn, to adjust their labour input downwards than pre-crisis clients of more healthy banks. These results are robust across types of loan applications that were denied credit, i.e. applications to finance working capital, debt or new investments. Yet, estimates also show that credit constraints have been essentially detrimental for employment among SMEs experiencing a negative demand shock or facing strong product market competition. In terms of human resources management, credit constraints are not only found to foster employment adjustment at the extensive margin but also to increase the use of temporary layoff allowances for economic reasons. This outcome supports the hypothesis that short-time compensation programmes contribute to save jobs during recessions.
    Keywords: C35 ; C36 ; D22 ; G01 ; G21 ; J21 ; J23 ; ddc:330 ; SMEs ; banks’ financial health ; credit constraints ; employment ; short-time compensation programmes ; Great Recession ; matched bank-firm data
    Language: English
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: In this work we develop a set of labour market and fiscal policy experiments upon the labour and credit augmented "Schumpeter meeting Keynes" agent-based model. The labour market is declined under two institutional variants, the "Fordist" and the "Competitive" set- ups meant to capture the historical transition from the Fordist toward the post "Thatcher- Reagan" period. Inside these two regimes, we study the different effects of supply-side active labour market policies (ALMPs) vs. demand-management passive labour market ones (PLMPs). In particular, we analyse the effects of ALMPs aimed at promoting job search, and at providing training to unemployed people. Next, we compare the effects of these policies with unemployment benefits simply meant to sustain income and therefore aggregate demand. Considering the burden of unemployment benefits in terms of public budget, we link such provision with the objectives of the European Stability and Growth Pact. Our results show that (i) an appropriate level of skills is not enough to sustain growth when workers face adverse labour demand; (ii) supply-side policies are not able to reverse the perverse interaction between exibility and austerity; (iii) PLMPs outperform ALMPs in reducing unemployment and workers' skills deterioration; and (iv) demand-management policies are better suited to mitigate inequality and to improve and sustain long-run growth.
    Keywords: C63 ; E24 ; H53 ; J88 ; ddc:330 ; Industrial-relation Regimes ; Flexibility ; Active Labour Market Policies ; Austerity ; Agent-based models
    Language: English
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    Kiel: Kiel Institute for the World Economy (IfW)
    Publication Date: 2018-01-24
    Description: We examine experimentally individual preferences for redistributions in the US, Italy, and Norway. Twenty-one subjects were assigned initial earnings from a discrete uniform distribution. The source of earnings was manipulated and depended either on luck or on individual relative performance in some tasks. All subjects chose a redistribution rate to be applied to group members' earnings. One choice was then randomly selected to determine final earnings. Four different experimental decisions altered whether subjects' choice applied only to others, thus making self-interest irrelevant (impartial decision), and the degree of information over one's earnings. Norwegian subjects demanded significantly higher levels of redistribution both in the impartial decision and when self-interest offered the most clear-cut prescription, as uncertainty over one's earnings was removed. The demands for redistributions by US and Italian participants were instead similar. Conversely, country differences disappeared in decisions where earnings were uncertain. Contrary to widely held views, no evidence was found that US subjects were more "meritocratic" than others. Italian subjects reacted the most to the source of inequality, decreasing demand for redistribution in Performance treatments compared to Luck treatments. While behaviour of subjects whose earnings were above the median level (the "rich") did not differ significantly across countries, large differences emerged for people below the median level (the "poor") in the fourth decision. Italian "poor" were agreeable to let the "rich" receive a large share of their earnings, particularly so in Performance treatments. Conversely, Norwegians "poor" demanded full earnings equalisation. The behaviour of US subjects fell between these two extremes. This evidence shows the existence of relevant cross-country difference in demand for redistribution and opens new perspectives on what may be considered "fair" or "unfair" inequality in Western countries.
    Keywords: D63 ; D71 ; C92 ; ddc:330 ; inequality ; Redistribution ; individual merit ; cross-country experiments
    Language: English
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: A common problem with differences-in-differences (DD) estimates is the failure of the parallel-trend assumption. To cope with this, most authors include polynomial (linear, quadratic…) trends among the regressors, and estimate the treatment effect as a once-in-a-time trend shift. In practice that strategy does not work very well, because inter alia the estimation of the trend uses post-treatment data. An extreme case is when sample covers only one period before treatment and many after. Then the trend's estimate relies almost completely on post-treatment developments, and absorbs most of the treatment effect. What is needed is a method that i) uses pre-treatment observations to capture linear or non-linear trend differences, and ii) extrapolates these to compute the treatment effect. This paper shows how this can be achieved using a fully-flexible version of the canonical DD equation. It also contains an illustration using data on a 1994-2000 EU programme that was implemented in the Belgian province of Hainaut.
    Keywords: C21 ; C4 ; C5 ; ddc:330 ; Treatment-Effect Analysis ; Differences-in-Differences Models ; Correction for trend differences
    Language: English
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: This paper studies to what extent banning first-generation women from aborting affected the fertility of second-generation individuals who did not face such legal constraint. Using multiple censuses from Romania, I follow men and women born around the 1966 Romanian abortion ban to study the demand for children over their life cycle. The empirical approach combines elements of the regressions discontinuity design and the Heckman's selection model. Results indicate that second-generation individuals whose mothers were affected by the ban had a significantly lower demand for children. One-third of such decline is explained by inherited socio-economic status and two-thirds presumably by preferences.
    Keywords: J13 ; O15 ; P36 ; ddc:330 ; intergenerational fertility transmission ; fertility preferences ; Romania ; abortion ban
    Language: English
    Type: doc-type:workingPaper
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: Persistent unemployment across OECD countries has led to increasing investments in activation programmes and, as a consequence, rigorous evaluations of the effectiveness of these programmes. The results of these evaluations have been mixed at best. To improve the effectiveness of the activation programmes, it is important to know why we observe these unsatisfactory results. One possible explanation that has been largely underexplored is the signal these programmes send to prospective employers. We investigate this signalling effect in the context of a job-vacancy referral system. To this end, we conduct a state-of-the-art vignette experiment in which HR professionals make hiring decisions concerning fictitious job candidates who apply either under a job-vacancy referral system or directly (without referral). By analysing the experimental data, we provide first causal evidence for a substantial adverse effect of referral on the probability of being hired. In addition, our experimental design allows us to explore whether this effect is heterogeneous by job candidate and recruiter characteristics and what exactly is signalled by the job-vacancy referral. In particular, we find that employers perceive referred candidates as being less motivated than other candidates.
    Keywords: J68 ; J23 ; C91 ; ddc:330 ; signalling ; activation policies ; job referral ; policy evaluation ; unemployment
    Language: English
    Type: doc-type:workingPaper
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: During his presidential campaign, the new elected President of U.S., Donald Trump, called for a complete ban on Muslims from entering the United States. Although numerous European observers have been shocked by his racist proposal, using the most recent round of the European Social Survey, this paper found that a sizeable proportion of Europeans support a similar ban in their own countries, e.g. Czech Republic (54%), Hungary (51%), Estonia (42%), Poland (33%), and Portugal (33%). The paper also provides evidence that racism and immigration phobia play a key role in shaping Europeans’ support of a ban on Muslim immigration. This finding challenges the discourse and campaigns of the populist groups who exploit the ‘Islamization of Europe’ rhetoric successfully and use various pretexts to justify a call for a ban on Muslims’ immigration, e.g. the threat to security, secularism, democracy, Western ‘identity’, culture and values.
    Keywords: F22 ; J71 ; J79 ; ddc:330 ; Internatonal migration ; discrimination ; islamophobia ; racism ; public opinion
    Language: English
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    Gelsenkirchen: Institut Arbeit und Technik (IAT)
    Publication Date: 2018-01-24
    Description: * An Mobilitätsinitiativen, in denen soziale Innovationen entwickelt und implementiert werden, beteiligen sich hauptsächlich Unternehmen, lokale öffentliche Akteure, NGOs und Nutzerinnen und Nutzer. * Die Schwerpunkte der Initiativen liegen in den Bereichen grüne Mobilität und langsame Mobilität sowie der Schaffung von Zugängen durch bessere Erreichbarkeit und inklusive Mobilität. * Viele der in die Initiativen involvierten Nutzerinnen und Nutzer tragen aktiv zur Erbringung der Mobilitätsdienstleistung bei (z.B. als Fahrerinnen und Fahrer). * Die Finanzierung der Initiativen erfolgt an erster Stelle durch Einnahmen aus erbrachten Leistungen. Dies ist ein deutlicher Unterschied im Vergleich zu anderen sozialen Innovationen, z.B. in den Politikfeldern Bildung, Arbeit, Gesundheit.
    Keywords: ddc:330
    Language: German
    Type: doc-type:report
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    Berlin: Stiftung Marktwirtschaft
    Publication Date: 2018-01-24
    Description: Dank der guten konjunkturellen Lage und der Niedrigzinspolitik der Europäischen Zentralbank hat sich der in den vergangenen Jahren erkennbare Trend hin zu mehr Haushaltskonsolidierung 2017 fortgesetzt. Das spiegelt sich auch im Update 2017 des EU-Nachhaltigkeitsrankings der Stiftung Marktwirtschaft und des Forschungszentrums Generationenverträge der Universität Freiburg wider, das die fiskalische Tragfähigkeit der öffentlichen Haushalte in Europa auf Basis aktuell vorliegender Finanz- und Wirtschaftsdaten analysiert und sowohl die Entwicklung der Staatsverschuldung im Vergleich zum Vorjahr als auch langfristig darstellt. Neben den bereits explizit ausgewiesenen Staatsschulden werden folglich auch absehbare künftige Haushaltsdefizite (implizite Schulden) berücksichtigt. [...]
    Keywords: ddc:330 ; Öffentliche Schulden ; Finanzpolitik ; Nachhaltigkeit ; Vergleich ; EU-Staaten ; Generationengerechtigkeit ; Prognose
    Language: German
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: Using information from the world values survey wave 6 containing information from 78,743 respondents in 53 countries, we examine the factors which influence respondents’ answers to the question: “when jobs are scarce, should employers give priority to people of the country of origin rather than immigrants?” Taking into account a number of factors including, economic, socio-demographic, political and individual level characteristics we find that all of these factors influence respondents’ preference for this form of discrimination.
    Keywords: F22 ; J71 ; J79 ; ddc:330 ; International migration ; discrimination ; public opinion
    Language: English
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    Maastricht: Global Labor Organization (GLO)
    Publication Date: 2018-01-24
    Description: We develop a scale of severity of violence against women based on fuzzy set theory. The scale can be used to derive fuzzy indexes of violence which account for the prevalence, frequency and severity of violence. Using the results of the survey conducted by the European Agency for Human Rights (FRA) we find strong congruence of ranking between the proposed scale and three widely used alternatives – the Conflict Tactic Scale, The Severity of Violence Against Women Scale and the Index of Spouse Abuse. Unlike existing alternatives, however, the scale that we propose is based on objective information rather than subjective assessment; it is parsimonious in terms of the amount of information that it requires; and it is less vulnerable to risks of cultural bias. As an example of the uses to which fuzzy measurement of violence can be put, we compute fuzzy indexes of intimate partner violence for European countries and find a clear, inverse correlation across countries with the degree of gender equality.
    Keywords: C49 ; D63 ; J16 ; ddc:330 ; violence against women ; fuzzy set theory ; severity of violence scales ; Europe ; gender
    Language: English
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    Düsseldorf: Düsseldorf Institute for Competition Economics (DICE)
    Publication Date: 2018-01-26
    Description: This paper analyzes the effects of a merger between a German supermarket chain and a soft discounter on consumer prices. We exploit geographic variation in prices within retail chains and brands and use a difference-in-differences estimator to compare regional markets with a change in market structure to a control group in unaffected markets. Our results indicate that both insiders and outsiders raised average prices after the merger, particularly in regions with high expected change in retail concentration. In contrast, we estimate price declines in regions that did not experience a rise in concentration but were potentially affected by cost savings within the merged entity. We also provide evidence that remedies imposed by competition authorities were not sufficient to o set anti-competitive effects.
    Keywords: D22 ; L11 ; L81 ; L66 ; K21 ; ddc:330 ; Mergers and Acquisitions ; Ex-post Merger Evaluation ; Retail Markets ; RetailPrices ; Competition
    Language: English
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    Mannheim: Zentrum für Europäische Wirtschaftsforschung (ZEW)
    Publication Date: 2018-01-26
    Description: The use of public procurement to promote private innovation activities has attracted increasing attention recently. Germany implemented a legal change in its procurement framework in 2009, which allowed government agencies to specify innovative aspects of procured products as selection criteria in tender calls. We analyze a representative sample of German firms to investigate whether this reform stimulated innovation in the business sector. Across a wide set of specifications - OLS, nearest-neighbor matching, IV regressions and difference-in-differences - we find a robust and significant effect of innovationdirected public procurement on turnover from new products and services. However, our results show that the effect is largely attributable to innovations of more incremental nature rather than market novelties.
    Keywords: H57 ; O38 ; ddc:330 ; Public Procurement of Innovation ; Public Procurement with Contracted Innovation ; Technical Change ; Research and Development ; Econometric Policy Evaluation
    Language: English
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    Halle (Saale): Leibniz-Institut für Wirtschaftsforschung Halle (IWH)
    Publication Date: 2018-01-26
    Description: Failure in organisations is a very common phenomenon. Little is known about whether past failure affects workers' subsequent performance. We conduct a field experiment in which we follow up a failed mail campaign to attract new volunteers with a phone campaign pursuing the same goal. We recruit temporary workers to carry out the phone campaign and randomly assign them to either receive or not receive information about the previous failure and measure their performance. We find that informed workers perform better - in terms of both numbers dialed (about 14% improvement) and completed interviews (about 20% improvement) - regardless of whether they had previously worked on the failed mail campaign. Evidence from a second experiment with student volunteers asked to support a campaign to reduce food waste suggests that the mechanism behind our finding relates to contextual inference: Informing workers/volunteers that they are pursuing a goal that is hard to attain seems to add meaning to the work involved, leading them to exert more effort.
    Keywords: C93 ; J22 ; M50 ; ddc:330 ; contextual inference ; feedback ; failure ; field experiment ; meaning of work
    Language: English
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    Braunschweig: Johann Heinrich von Thünen-Institut
    Publication Date: 2018-01-26
    Description: Vertragsnaturschutz bzw. Naturschutz gegen Entgelt wird im Wald bisher nur vereinzelt umgesetzt. Vor diesem Hintergrund analysiert das Verbundforschungsprojekt 'Vertragsnaturschutz im Wald (WaVerNa)' den gegenwärtigen Umsetzungsstand sowie die Potenziale und Hemmnisse von Vertragsnaturschutz im Wald aus einer waldökologischen, ökonomischen und rechtlichen Perspektive. In diesem Zusammenhang wurde eine orientierende Online-Befragung von Stiftungen im Bundesgebiet zu ihrem Förderengagement von Waldnaturschutz durchgeführt. Für die Auswertung standen die Antworten von 38 Stiftungen, die Waldnaturschutzmaßnahmen gegen Entgelt fördern bzw. umsetzen oder dies in Zukunft beabsichtigen, zur Verfügung. Befragt nach den geförderten bzw. beabsichtigten Waldnaturschutzmaßnahmen, gaben die Stiftungen ein breites Spektrum an. Bei den meisten Stiftungen überwiegen kleine Flächen außerhalb von Schutzgebieten. Das jährliche Budget für die Förderung von Waldnaturschutz beläuft sich bei der Mehrheit der Stiftungen auf weniger als 50.000 €. Die konkrete Anzahl der Stiftungen, die Waldnaturschutz gegen Entgelt auf Flächen Dritter in Deutschland fördern, ist unbekannt. Auf Basis von Annahmen zur Rücklaufquote der Befragung, beläuft sich die zugehörige Grundgesamtheit auf eine Größenordnung von 90 bis 170 Stiftungen. Auf Basis dieser Schätzung beläuft sich die jährliche Maßnahmenfläche der Stiftungen im Bundesgebiet in einer Größenordnung zwischen 14.000 und 17.000 ha Wald und das jährliche Budget in einer Größenordnung von 2,7 bis 3,7 Mio. €. Bei einer insgesamt positiven Beurteilung der Erfahrungen mit Waldvertragsnaturschutz, planen mehr als zwei Drittel der teilnehmenden Stiftungen in Zukunft ein gleichbleibendes Engagement.
    Description: Contract-based nature conservation or payments for nature conservation measures are de facto sporadically implemented in forests. Against this background the joint research project 'Nature Conservation Contracts in Forests (WaVerNa Project)' aims to analyze the current implementation status as well as opportunities and constraints of nature conservation contracts in the field of forest ecology, economics, and law. In this context foundations were asked in a nationwide online survey referring to their financial involvement in forest nature conservation. The answers of 38 foundations which financially sponsor or intend to sponsor measures of forest nature conservation were assessed. When asked, foundations stated to sponsor or intend to sponsor a broad range of measures of forest nature conservation. Most of the foundations are actively supporting almost small areas outside of nature reserves. Consequently, most of the foundations deal with an annual funding budget for nature conservation measures in forests of less than 50,000 €. The number of foundations which sponsor nature conservation measures in third-party forest areas in Germany is unknown. Based on assumptions referring to the response rate, the basic population of foundations could roughly be estimated by an approximate dimension of 90 to 170 foundations. Based on this dimension the annually funded forest area of all German foundations involved in forest nature conservation is estimated between approximately 14,000 and 17,000 hectares, while the corresponding estimate of annual funding budget ranges between 2.7 and 3.7 million € at mean. Due to an almost positive assessment of their experiences of nature conservation contracts in forests, two third of the participating foundations are planning for the future to continue their engagement in the same manner.
    Keywords: ddc:630
    Language: German
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    Mannheim: Zentrum für Europäische Wirtschaftsforschung (ZEW)
    Publication Date: 2018-01-26
    Description: In Germany, R&D subsidies are an important tool to support innovation in the private sector. This paper studies the welfare effects of R&D subsidies distributed through the German federal government's thematic R&D programs between 1994 and 2011. The analysis is based on a structural model of the R&D subsidy process which allows to estimate the benefits of R&D subsides to the German economy. The model takes into account heterogeneous application costs of firms and identifies the effect of the subsidy on the federal government's utility as well as on firm profits. Assuming a welfare-maximizing federal government, the estimated average social rate of return is 34% for Germany in the period 1994 to 2011. Thereby effects on firm profits are similar to effects on spillovers to the rest of the German economy. Besides results show that the subsidy rate decision in Germany remained remarkably stable over time, and that application costs as well as the marginal profitability of subsidized R&D projects are lower after the year 2000 compared to the years before.
    Keywords: D61 ; H25 ; L59 ; O31 ; O38 ; ddc:330 ; R&D ; Innovation ; R&D Subsidies ; Innovation Policy ; Welfare Economics
    Language: English
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    Halle (Saale): Leibniz Institute of Agricultural Development in Transition Economies (IAMO)
    Publication Date: 2018-01-26
    Description: With the goal of reducing the dependency on oil revenues, the Government of Kazakhstan has recently increased its budget allocations to prop up the domestic agricultural sector. Yet, many observers agree that it is less the amount of public spending that induces long-term growth than the quality of the regulatory environment. Against this background, the current paper analyses the nature and effects of state regulation in the cotton sector. In the early 2000s, it was considered to be the only example of private vertical coordination in Kazakhstani agriculture, which contrasted sharply with the state mandates imposed on producers in Uzbekistan and Turkmenistan. However, in 2007, regulation in Kazakhstan forced ginneries to use a complex warehouse receipt system without making sure that it was accepted by stakeholders and without appropriate institutions for implementing it in place. At the same time, it imposed financing restrictions on ginneries, which were major loan and input providers to farmers. Further measures included the establishment of a special economic zone to host a "cotton cluster". In the following years, private producers and investors turned away from cotton, and cotton area and output fell substantially. We argue that the cotton sector performance after 2007 shows how ill-designed regulation and government interference can turn a promising economic sector into decline. As an unintended side effect, the regulation promoted more diversified crop rotations based on high value crops.
    Description: Um die Abhängigkeit von den Einnahmen aus Rohölverkäufen zu verringern, hat die Regierung der Republik Kasachstan in den vergangenen Jahren die Unterstützungszahlungen für den einheimischen Agrarsektor erhöht. Doch viele Beobachter stimmen darin überein, dass weniger die Höhe der öffentlichen Zuwendungen als die Qualität der staatlichen Regulierung das langfristige Wachstum befördert. Vor diesem Hintergrund untersucht der vorliegende Bericht die Beschaffenheit und die Auswirkungen der staatlichen Eingriffe im Baumwollsektor. In den frühen 2000er Jahren wurde dieser Sektor als das einzig vorhandene Beispiel rein privater vertikaler Koordination in der kasachischen Landwirtschaft angesehen, welches in starkem Gegensatz zu den in Usbekistan und Turkmenistan verbreiteten Anbauverpflichtungen für Produzenten stand. Im Jahre 2007 zwang ein neues Gesetz die Baumwollverarbeiter jedoch dazu, ein kompliziertes System der Einlagerungsscheine (warehouse receipts) einzuführen, ohne sicherzustellen, dass die beteiligten Akteure es akzeptierten und ohne die nötigen institutionellen Voraussetzungen dafür zu schaffen. Gleichzeitig erschwerte das Gesetz die Finanzierung der von den Landwirten eingesetzten Vorleistungen, die bisher vorwiegend von den Verarbeitern bereitgestellt wurde. Weitere Maßnahmen betrafen die Einrichtung einer Sonderwirtschaftszone zur Schaffung eines 'Baumwoll-Clusters'. In den Folgejahren wandten sich die privaten Produzenten und Investoren von der Baumwollproduktion ab und sowohl die Anbaufläche als auch die Erzeugung fielen deutlich. Aus Sicht der Autoren zeigt die Entwicklung des Baumwollsektors nach 2007, wie fehlgeplante Regulierungen und staatliche Eingriffe einen vielversprechenden Sektor in den Abschwung stürzen können. Als unbeabsichtigter Nebeneffekt führte die Regulierung zu stärker diversifizierten Fruchtfolgen, die nun zunehmend Produkte mit hoher Wertschöpfung beinhalten.
    Keywords: O13 ; O25 ; P23 ; Q15 ; ddc:330 ; cotton ; Kazakhstan ; public regulation ; commodity finance ; Baumwolle ; Kasachstan ; staatliche Regulierung ; Rohstofffinanzierung
    Language: English
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