Journal of Government and Economics最新文献

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Variability and strictness in COVID-19 government response: A macro-regional assessment 政府应对COVID-19的变异性和严谨性:宏观区域评估
Journal of Government and Economics Pub Date : 2022-06-01 DOI: 10.1016/j.jge.2022.100039
Michael Donadelli , Ivan Gufler , Renatas Kizys , Marcella Lucchetta
{"title":"Variability and strictness in COVID-19 government response: A macro-regional assessment","authors":"Michael Donadelli ,&nbsp;Ivan Gufler ,&nbsp;Renatas Kizys ,&nbsp;Marcella Lucchetta","doi":"10.1016/j.jge.2022.100039","DOIUrl":"10.1016/j.jge.2022.100039","url":null,"abstract":"<div><p>We examine the effectiveness of non-pharmaceutical government interventions (NPIs) against COVID-19. In particular, we focus on the impact of strictness and variability in government interventions on the reproduction rate (<span><math><msub><mi>R</mi><mi>t</mi></msub></math></span>) and the number of new deaths (per million of inhabitants) in five different world regions (G7, G20, EU28, Central America and Asia). In line with existing evidence, we observe that more stringent and frequent NPIs contributed to slow down contagion. Unfortunately, no benefits in terms of mortality are found. In fact, with few exceptions, both strictness and variability in NPIs are associated with a rise in the number of new deaths. This evidence is observed to be stronger among advanced economies and over the second pandemic wave. Take together, our research findings advocate early and decisive implementation of NPIs, but gradual and staggered relaxation of NPIs when the pandemic appears to recede.</p></div>","PeriodicalId":100785,"journal":{"name":"Journal of Government and Economics","volume":"6 ","pages":"Article 100039"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667319322000118/pdfft?md5=edcc96d9a9981d7826aaf16173630c79&pid=1-s2.0-S2667319322000118-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87398868","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The government, private firms, and dual-track private sector development: China's experience in two crucial decades 政府、私营企业和私营部门双轨发展:中国在关键的二十年的经验
Journal of Government and Economics Pub Date : 2022-06-01 DOI: 10.1016/j.jge.2022.100037
Cheryl Xiaoning Long , Lixin Colin Xu , Jin Yang
{"title":"The government, private firms, and dual-track private sector development: China's experience in two crucial decades","authors":"Cheryl Xiaoning Long ,&nbsp;Lixin Colin Xu ,&nbsp;Jin Yang","doi":"10.1016/j.jge.2022.100037","DOIUrl":"https://doi.org/10.1016/j.jge.2022.100037","url":null,"abstract":"<div><p>A key to understand the evolution of an economy is the property rights institution and the contracting institution that the government set up to shape the business environment of private firms. Focusing on China during its crucial two decades of transition (from the early 1990s to the early 2010s), this paper documents how the country's business environment and the characteristics of entrepreneurs evolved, along with the role played by local governments. Relying on multiple comprehensive data sets, the paper shows that many aspects of local business environments improved: infrastructure, development of the court system, and access to external finance. Meanwhile, the share of politically connected private firms remained large, and their advantage in accessing key resources increased. Under this dual-track private sector development, private firms became larger and more innovative and adopted more formal corporate governance mechanisms. Entrepreneurs became better educated, with more diverse sectoral experiences. Market competition increased over time, especially after China's World Trade Organization entry. The paper offers suggestive evidence that this dual track development had negative consequences, such as a lower tendency to innovate by politically connected firms.</p></div>","PeriodicalId":100785,"journal":{"name":"Journal of Government and Economics","volume":"6 ","pages":"Article 100037"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S266731932200009X/pdfft?md5=340f5df88e5b0d92c4d73742b8e40c58&pid=1-s2.0-S266731932200009X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"137011468","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Ageing and Welfare State Policy: A Macroeconomic Perspective 老龄化与福利国家政策:宏观经济视角
Journal of Government and Economics Pub Date : 2022-03-01 DOI: 10.1016/j.jge.2022.100030
Assaf Razin , Alexander Schwemmer
{"title":"Ageing and Welfare State Policy: A Macroeconomic Perspective","authors":"Assaf Razin ,&nbsp;Alexander Schwemmer","doi":"10.1016/j.jge.2022.100030","DOIUrl":"https://doi.org/10.1016/j.jge.2022.100030","url":null,"abstract":"<div><p>It has been widely recognized that population ageing could generate structural changes centered around a dwindling labor force, on one hand, and an expanding dependency on the generosity of the welfare state, on the other hand. Welfare state policy related to population ageing entails both fiscal and migration issues. This paper employs a general-equilibrium model with a policy making focus to help illuminate the mechanisms governing social benefit provision, labor income taxation, capital income taxation, and migration curbs on low-skilled and high-skilled workers, all driven by population ageing. Greater generosity of the welfare state comes together with a more liberal migration policy when incentives are compatible with the interests of the majority of voters. The effects of ageing on the tax and benefit sides of the welfare state depend on the number of dependents in the population and whether the country is a capital importer (in which case the capital tax burden is shared with foreigners) or a capital exporter (in which case the age-related wage increase skews taxation towards labor income). The tax-benefit narraive is about factor supplies. Low ageing evolution correlates with a relatively labor-abundant country (low retirement), which turns into a labor-scarce country (high retirement). Parallel to the evolution of the labor force, a country that is a capital importer (with a high rate of return) becomes a capital exporter (with a low rate of return). Greater demand for social benefits from an ageing population is balanced against the rising costs of labor income taxation and capital income taxation.</p></div>","PeriodicalId":100785,"journal":{"name":"Journal of Government and Economics","volume":"5 ","pages":"Article 100030"},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667319322000027/pdfft?md5=57b752018d457434828562a6f9209f6a&pid=1-s2.0-S2667319322000027-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92060660","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Public Debt: My Dissent from “Keynesian” Theories 公共债务:我对“凯恩斯主义”理论的异议
Journal of Government and Economics Pub Date : 2022-03-01 DOI: 10.1016/j.jge.2022.100029
Edmund Phelps
{"title":"Public Debt: My Dissent from “Keynesian” Theories","authors":"Edmund Phelps","doi":"10.1016/j.jge.2022.100029","DOIUrl":"10.1016/j.jge.2022.100029","url":null,"abstract":"<div><p>When a governmental crisis subsides, citizens are apt to wonder whether all the deficit spending is going to cost something. This situation is the subject of wildly differing views. Which view appears to be most nearly right? The Keynesian view that public debt serves to pull up employment, thus reducing the unemployment rate and inducing higher participation? Or the neoclassical view that public debt sets the capital stock onto a lower path, thus decreasing the labor force and employment?</p></div>","PeriodicalId":100785,"journal":{"name":"Journal of Government and Economics","volume":"5 ","pages":"Article 100029"},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667319322000015/pdfft?md5=ac6433b51ca793fc39eeb51fa8b19a91&pid=1-s2.0-S2667319322000015-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89201904","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Development strategy and the MSMEs finance gap 发展战略与中小微企业融资缺口
Journal of Government and Economics Pub Date : 2022-03-01 DOI: 10.1016/j.jge.2022.100034
Justin Yifu Lin , Zirong Yang , Yingting Li , Yilin Zhang
{"title":"Development strategy and the MSMEs finance gap","authors":"Justin Yifu Lin ,&nbsp;Zirong Yang ,&nbsp;Yingting Li ,&nbsp;Yilin Zhang","doi":"10.1016/j.jge.2022.100034","DOIUrl":"https://doi.org/10.1016/j.jge.2022.100034","url":null,"abstract":"<div><p>In this paper, we investigate the root cause for large MSMEs finance gap. We advance five propositions for the mechanism through which the distorted financial structure generated by a comparative-advantage-defying strategy leads to large MSMEs finance gap. We then use panel data from 115 countries to test the propositions and find that, the adoption of a comparative-advantage-defying strategy accelerates the development of state-owned enterprises in capital-intensive industries, leading to concentrated banking sector and oversized state-owned enterprises obtaining high proportions of loans and enjoying low interest rate on borrowings. Finally we use cross-sectional data in 2017 to show that the adoption of a comparative-advantage-defying strategy is associated with large MSMEs finance gap. The paper suggests that the root cause for large MSMEs finance gap is the government's inappropriate development strategy.</p></div>","PeriodicalId":100785,"journal":{"name":"Journal of Government and Economics","volume":"5 ","pages":"Article 100034"},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667319322000064/pdfft?md5=c5c0b3c782d4d511694f4f51642d6ef4&pid=1-s2.0-S2667319322000064-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92008490","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
State capacity and the post office: Evidence from nineteenth century Quebec 国家职能与邮局:来自19世纪魁北克的证据
Journal of Government and Economics Pub Date : 2022-03-01 DOI: 10.1016/j.jge.2022.100035
Vincent Geloso , Michael Makovi
{"title":"State capacity and the post office: Evidence from nineteenth century Quebec","authors":"Vincent Geloso ,&nbsp;Michael Makovi","doi":"10.1016/j.jge.2022.100035","DOIUrl":"10.1016/j.jge.2022.100035","url":null,"abstract":"<div><p>The theory of state capacity predicts that states with powerful abilities – as long as they are constrained – can promote economic growth. Many scholars argue that post offices historically approximate state capacity and that they can be used to evaluate the state’s ability to promote development. We contest this relationship using Canadian evidence. Using a difference-in-differences method to estimate the effect of gaining a post office on the value of agricultural output per acre between 1831 and 1861, we find no treatment effect. We point out this is likely due to state capacity expansion crowding out efficient private operators.</p></div>","PeriodicalId":100785,"journal":{"name":"Journal of Government and Economics","volume":"5 ","pages":"Article 100035"},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667319322000076/pdfft?md5=cb960d9adbb45bc8aa9d87c673249261&pid=1-s2.0-S2667319322000076-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83297251","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Progressive sovereign wealth funds 进步的主权财富基金
Journal of Government and Economics Pub Date : 2022-03-01 DOI: 10.1016/j.jge.2022.100033
Giacomo Corneo
{"title":"Progressive sovereign wealth funds","authors":"Giacomo Corneo","doi":"10.1016/j.jge.2022.100033","DOIUrl":"https://doi.org/10.1016/j.jge.2022.100033","url":null,"abstract":"<div><p>Equity and efficiency can both be promoted, under some circumstances, by means of a sovereign wealth fund that mainly invests in the world stock market and whose gains are earmarked to a social dividend. A simple overlapping generation model with a fraction of hand-to-mouth agents is developed in which the government uses public debt to create such a fund. The socially optimal size of the fund is strictly positive and determined according to a formula that can be empirically implemented. While this policy is similar to popular capitalism in aiming at a more egalitarian distribution of capital income, it is predicated on a different notion of good society.</p></div>","PeriodicalId":100785,"journal":{"name":"Journal of Government and Economics","volume":"5 ","pages":"Article 100033"},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667319322000052/pdfft?md5=8e953246c4d33d2450c51abaf33c75d5&pid=1-s2.0-S2667319322000052-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92008489","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Michael Polanyi’s vision of government and economics: Spanning Hayek and Keynes 迈克尔·波兰尼的政府与经济学观:跨越哈耶克与凯恩斯
Journal of Government and Economics Pub Date : 2021-12-01 DOI: 10.1016/j.jge.2021.100026
Agnès Festré
{"title":"Michael Polanyi’s vision of government and economics: Spanning Hayek and Keynes","authors":"Agnès Festré","doi":"10.1016/j.jge.2021.100026","DOIUrl":"10.1016/j.jge.2021.100026","url":null,"abstract":"<div><p>This paper gives an interpretation of Michael Polanyi’s vision of government and economics as spanning between Hayek and Keynes. The influence of Hayek is manifested by his opposition to central planning and the defence of self-organization as a superior mechanism for coordinating individual plans, while the influence of Keynes is evidenced by his strong support for government interventionism in order to dampen economic fluctuations, fight unemployment and limit income inequalities. Polanyi blended these two influences and produced an idiosyncratic approach to government and economics, which has until recently been underrated in the literature. Our aim in this paper is to show that, by considering Polanyi’s mixed vision of the market economy as embedded in his broader pursuits into the nature of knowledge and liberalism one can find coherence which cannot otherwise be found.</p></div>","PeriodicalId":100785,"journal":{"name":"Journal of Government and Economics","volume":"4 ","pages":"Article 100026"},"PeriodicalIF":0.0,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667319321000264/pdfft?md5=fdfb419664ef6cfde4b136be894354f3&pid=1-s2.0-S2667319321000264-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91002470","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Why reducing relative deprivation but not reducing income inequality might bring down COVID-19 infections 为什么减少相对贫困而不是减少收入不平等可能会降低COVID-19感染
Journal of Government and Economics Pub Date : 2021-12-01 DOI: 10.1016/j.jge.2021.100028
Oded Stark
{"title":"Why reducing relative deprivation but not reducing income inequality might bring down COVID-19 infections","authors":"Oded Stark","doi":"10.1016/j.jge.2021.100028","DOIUrl":"10.1016/j.jge.2021.100028","url":null,"abstract":"<div><p>We examine an assumed link between reducing inequality in income distribution, namely reducing the Gini coefficient on one hand, and improving public health in general and lowering the incidence and severity of COVID-19 in particular on the other hand. The Gini coefficient can be shown to consist of two components, one of which is (a measure of) relative deprivation, which was found to cause social stress that harms public health. Because a component is not the whole, the lowering of inequality in the income distribution by means of reducing the Gini coefficient does not necessarily result in lowering relative deprivation. Specifically, we show that a policy of reducing income inequality aimed at improving public health might not be effective - even when, in the process, no-one's income is reduced, or all incomes increase.</p></div>","PeriodicalId":100785,"journal":{"name":"Journal of Government and Economics","volume":"4 ","pages":"Article 100028"},"PeriodicalIF":0.0,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667319321000288/pdfft?md5=5bdd2dd9fa13df38ffb101c8512acc1d&pid=1-s2.0-S2667319321000288-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87466888","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Residual government ownership in public-private partnership projects 公私合作项目中剩余的政府所有权
Journal of Government and Economics Pub Date : 2021-12-01 DOI: 10.1016/j.jge.2021.100018
Alhassan Mansaray , Simeon Coleman , Ali Ataullah , Kavita Sirichand
{"title":"Residual government ownership in public-private partnership projects","authors":"Alhassan Mansaray ,&nbsp;Simeon Coleman ,&nbsp;Ali Ataullah ,&nbsp;Kavita Sirichand","doi":"10.1016/j.jge.2021.100018","DOIUrl":"10.1016/j.jge.2021.100018","url":null,"abstract":"<div><p>Social and economic infrastructure are essential for economic development. However, over the last three decades, many infrastructure projects in developing countries have failed. These failures raise the question as to the role of governments in the provision, and longevity, of much needed infrastructure. In this paper, we seek to examine the significance of governments’ residual ownership in determining the failure of infrastructure projects that started as Public-Private Partnerships (PPP). We utilise duration analysis to analyse 2721 PPP projects across six regions globally and find that assigning the residual ownership of infrastructure projects to the government reduces the probability of project failure. It may be the case that assigning the risk of residual ownership to governments makes the project more affordable to end users. We also find that both project size and sector play an important role in determining the probability of project failure. These findings provide policy insights and highlights issues around the way infrastructure projects in developing countries are negotiated between the private sector and governments.</p></div>","PeriodicalId":100785,"journal":{"name":"Journal of Government and Economics","volume":"4 ","pages":"Article 100018"},"PeriodicalIF":0.0,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667319321000185/pdfft?md5=745d00c9f6454cdc1c662b9f248a8ee5&pid=1-s2.0-S2667319321000185-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80399699","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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