{"title":"ICT and Growth: The Role of Rates of Return and Capital Prices","authors":"T. Niebel, Marianne Saam","doi":"10.1111/roiw.12168","DOIUrl":"https://doi.org/10.1111/roiw.12168","url":null,"abstract":"We revisit the widely discussed contribution of investment in ICT to economic growth, focusing on differences in productivity and quality of ICT across countries and time. In a growth accounting approach, we look at the way rates of return and rates of asset price decline measure these aspects. Conducting a sensitivity analysis with data from the EU KLEMS database for the years 1990–2007, we introduce a constant rate of return and a constant rate of ICT price decline. Both alternative measurements somewhat downplay the role investment played relative to growth in multifactor productivity in the U.K. and the U.S. during 1995–2000. Moreover, we show that more than half of the ICT contribution to labor productivity growth results from changes in capital quality and composition rather than from quantity.","PeriodicalId":191636,"journal":{"name":"ERN: Other Development Economics: Microeconomic Issues in Developing Economies (Topic)","volume":"105 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124740045","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Estimating Consumption Responses to Income Shocks of Different Persistence Using Self‐Reported Income Measures","authors":"M. Kukk, Dmitry Kulikov, K. Staehr","doi":"10.1111/roiw.12163","DOIUrl":"https://doi.org/10.1111/roiw.12163","url":null,"abstract":"Models of intertemporal consumption choice posit that consumption reacts more strongly to income shocks with persistent effects than to shocks with temporary effects. This prediction is tested using data from the Estonian Household Budget Surveys for 2002–07. Questions in the survey make it possible to distinguish between two income components of different persistence, using the individual households’ subjective income classification. Estimations confirm that households distinguish income components of different persistence and react to these differently; the consumption response to income shocks with persistent effects is significantly higher than the response to shocks with only temporary effects. Further analysis reveals, however, that consumption also reacts to lagged shocks to temporary income even when the households are not liquidity constrained, suggesting that their behavior is not fully consistent with the standard forward‐looking unconstrained consumption models.","PeriodicalId":191636,"journal":{"name":"ERN: Other Development Economics: Microeconomic Issues in Developing Economies (Topic)","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114989790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Academia-Industry Interface in B-Schools: Challenges & Imperatives","authors":"Srirang K. Jha","doi":"10.5958/2456-8023.2016.00005.x","DOIUrl":"https://doi.org/10.5958/2456-8023.2016.00005.x","url":null,"abstract":"There has been a lot of hue and cry about gloomy academia-industry interface in recent years. Louder voices for closer collaboration between academia and industry heard in a number of conferences, seminars and forums usually turn hollow and fade away on the ground. This perspective paper tries to explore why the higher education institutions and industry fail to develop lasting associations in spite of a fair understanding about concomitant benefits that may accrue as a result of such ties. The paper provides a critique of the current scenario vis-a-vis academia industry interface especially in the context of Indian B-schools and corporate houses operating in the country. Imperatives for strengthening academia-industry collaboration have also been discussed at length so as to inspire some real-time actions on the ground for benefit of all the stakeholders.","PeriodicalId":191636,"journal":{"name":"ERN: Other Development Economics: Microeconomic Issues in Developing Economies (Topic)","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130967766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"MUDRA (Micro Units Development and Refinance Agency Ltd Bank): Funding to Unfunded.","authors":"P. A. Petare, P. V. Mohite","doi":"10.2139/SSRN.2745763","DOIUrl":"https://doi.org/10.2139/SSRN.2745763","url":null,"abstract":"India is the largest emerging market for Micro, Small & Medium Enterprises which is growing very fast and plying a crucial role in providing large employment opportunities at rural India. The MSMSE’s are the pillar of economic development & growth of a country however India need to enhance the investment to the small business units to mininmise the demand &supply gap for funding because lack of adequate finance is the biggest challenge faced by theses units. Thus, The Indian Prime Minister Narendra Modi launched the promised Micro Units Development and Refinance Agency Ltd (MUDRA) to fund the unfunded. This paper takes in-depth overview on Purpose of Mudra, Products & Schemes offered by Mudra, Mudra Card, Eligibility Criteria For Mudra Refinance/Loan, PMMY Maharashtra State current Progress and benefits to the small entrepreneurs by Mudra.","PeriodicalId":191636,"journal":{"name":"ERN: Other Development Economics: Microeconomic Issues in Developing Economies (Topic)","volume":"196 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123271821","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Commercialization and the Decline of Joint Liability Microcredit","authors":"Jonathan de Quidt, T. Fetzer, Maitreesh Ghatak","doi":"10.2139/ssrn.2662416","DOIUrl":"https://doi.org/10.2139/ssrn.2662416","url":null,"abstract":"Numerous authors point to a decline in joint liability microcredit, and rise in individual liability lending. But empirical evidence is lacking, and there have been no rigorous analyses of possible causes. We first show using the well-known MIX Market dataset that there is evidence for a decline. Second, we show theoretically that commercialization–an increase in competition and a shift from non-profit to for-profit lending (both of which are present in the data)–drives lenders to reduce their use of joint liability loan contracts. Third, we test the model’s key predictions, and find support for them in the data.","PeriodicalId":191636,"journal":{"name":"ERN: Other Development Economics: Microeconomic Issues in Developing Economies (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116650078","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Estimating Local Network Externalities","authors":"Margherita Comola","doi":"10.2139/ssrn.946093","DOIUrl":"https://doi.org/10.2139/ssrn.946093","url":null,"abstract":"This paper illustrates a procedure to estimate externalities from indirect connections (so-called network externalities) using network data. This structural approach is suitable for static games of endogenous network formation with partial information, and relies on the equilibrium conditions of pairwise stability (Jackson and Wolinsky, 1996). Operationally, it consists in a two-step estimator which addresses omitted variable endogeneity. When the estimation protocol is applied to risk-sharing data within a Tanzanian village, results indicate that indirect connections matter. Network externalities are found to be negative, which can be interpreted as competition over scarce resources.","PeriodicalId":191636,"journal":{"name":"ERN: Other Development Economics: Microeconomic Issues in Developing Economies (Topic)","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129978571","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Optimal Privatization Policies Under an International Mixed Duopoly","authors":"Ruiqiu Ou, Jie Li, Jing Lu, Chenxu Guo","doi":"10.1111/rode.12207","DOIUrl":"https://doi.org/10.1111/rode.12207","url":null,"abstract":"This paper explores the socially optimal privatization policies under the setting of international mixed duopoly. We find that partial privatization is socially optimal under Cournot competition and private leadership competition, whereas full nationalization is socially optimal under public leadership competition. Moreover, the equilibrium social welfare under private leadership competition is higher than that observed under Cournot competition and that observed under private leadership competition, which differs from the findings of Matsumura ([Matsumura, Toshihiro, 2003b]). We also show that the endogenous timing game has a subgame perfect Nash equilibrium outcome, under which the government chooses a partial privatization policy, and private leadership competition emerges as the optimal output decision sequence of firms. An important policy implication from this paper is that the government should partially privatize the public firm and facilitate the emergence of private leadership competition in an international mixed market.","PeriodicalId":191636,"journal":{"name":"ERN: Other Development Economics: Microeconomic Issues in Developing Economies (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131013635","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Where Does Privatization Work? Understanding the Heterogeneity in Estimated Firm Performance Effects","authors":"J. D. Brown, John S. Earle, Á. Telegdy","doi":"10.2139/ssrn.2547819","DOIUrl":"https://doi.org/10.2139/ssrn.2547819","url":null,"abstract":"Why do the reported effects of privatization on firm performance vary so much? This paper provides new estimates of these effects and tests potential explanations for heterogeneity using comprehensive, long-panel data for 70,000 firms in five East European economies. We estimate that privatization raises measures of profitability, productivity, and growth by about 5–12% on average, but with substantial variation across countries and time periods. Analyzing heterogeneity in privatization effectiveness, we find little systematic role for firm size, financial dependence, exchange listing, or technological complexity, but important variation by fraction privatized, ownership concentration, firm quality, and the macroeconomic and institutional environment.","PeriodicalId":191636,"journal":{"name":"ERN: Other Development Economics: Microeconomic Issues in Developing Economies (Topic)","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122327524","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Wage Assimilation of Foreigners: Which Factors Close the Gap? Evidence from Germany","authors":"Florian Lehmer, Johannes Ludsteck","doi":"10.1111/roiw.12124","DOIUrl":"https://doi.org/10.1111/roiw.12124","url":null,"abstract":"type=\"main\"> This study analyzes the development of the wages of male foreign workers from all important sending countries across time using longitudinal employment register data. A cohort analysis of the individuals entering the German labor market in the years 1999 to 2001 indicates that the raw wage gap of migrants compared to native Germans decreases by 14 log percentage points in the first eight years. The results of a decomposition method based on fixed effects regression models give evidence that this wage adjustment is mostly due to time-varying observable characteristics. Selective return migration, and the trend effects play no role for the aggregate. We find that wage assimilation happens mainly through three channels: first, through the accumulation of firm-specific human capital, which explains approximately 40 percent; second, search gains are approximately the same order of magnitude; and third, the accumulation of general human capital explains one-fifth of the assimilation. We further demonstrate that the importance of these channels differs substantially by the origin groups.","PeriodicalId":191636,"journal":{"name":"ERN: Other Development Economics: Microeconomic Issues in Developing Economies (Topic)","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125140521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Intergenerational Earnings and Income Mobility in Spain","authors":"María Cervini-Plá","doi":"10.1111/roiw.12130","DOIUrl":"https://doi.org/10.1111/roiw.12130","url":null,"abstract":"type=\"main\"> This paper contributes to the large number of studies on intergenerational earnings and income mobility by providing new evidence for Spain. Since there are no Spanish surveys covering long-term information on both children and their fathers' income or earnings, we deal with this selection problem using the two-sample two-stage least squares estimator. We find that intergenerational mobility in Spain is similar to that in France, lower than in the Nordic countries and Britain, and higher than in Italy and the United States. Furthermore, we use the Chadwick and Solon approach to explore intergenerational mobility in the case of daughters and we find similar results by gender.","PeriodicalId":191636,"journal":{"name":"ERN: Other Development Economics: Microeconomic Issues in Developing Economies (Topic)","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132035728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}