Farhad Taghizadeh‐Hesary, N. Yoshino, C. Kim, Aline Mortha
{"title":"A Comprehensive Evaluation Framework on the Economic Performance of State-Owned Enterprises","authors":"Farhad Taghizadeh‐Hesary, N. Yoshino, C. Kim, Aline Mortha","doi":"10.2139/ssrn.3470065","DOIUrl":"https://doi.org/10.2139/ssrn.3470065","url":null,"abstract":"State-owned enterprises (SOEs) play a key role in the economy of many countries. They are usually thought to be in charge of increasing social welfare. At the same time, their relatively low performance poses several problems, including slowing down economic growth, which is especially pronounced in countries where these firms represent a large share of the economy. Therefore, it is crucial for central governments to implement a comprehensive evaluation method to assess the performance of SOEs. By employing the principal component analysis technique and using data of 1,148 SOEs, mostly from European countries, we provide a more comprehensive framework for assessing SOE performance, which includes various factors: profitability, per capita productivity, per capita costs, debt due days, and solvency. The results of our empirical study show that solvency, per capita costs, and per employee productivity have more deterministic power over the success or failure of SOEs than profitability. Focusing on profitability as the sole assessment criterion will mislead policy makers, keeping in mind also that the nature of many SOEs is to generate social welfare and not profit.","PeriodicalId":300478,"journal":{"name":"PSN: Comparative Political Institutions & Development (Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127981204","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":"Institutional Shocks and Proximate Causes of Growth: Evidence From the Era of French Rule in Italy","authors":"M. Postigliola, M. Rota","doi":"10.2139/ssrn.3380469","DOIUrl":"https://doi.org/10.2139/ssrn.3380469","url":null,"abstract":"This paper examines the effect of French political control during the Napoleonic period on proximate causes of growth across nineteenth-century Italy, finding a strong association between the intensity of French reforms and the accumulation of both social and human capital. We demonstrate that the effect induced by the French control is robust to geographical factors, to pre-French characteristics, and to the economic growth of Italian provinces during the nineteenth century. Then, we use exogenous variation in the provincial distance to Paris, from which French local armies received military and intelligence support to acquire and maintain control over conquered territories, turning correlations into causal relations. Our contribution unveils the existence of an institutional mechanism behind the differences in some important drivers of economic growth across Italian provinces prior to Unification.","PeriodicalId":300478,"journal":{"name":"PSN: Comparative Political Institutions & Development (Topic)","volume":"121 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114523613","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":"Diffuse Responsibility Undermines Public Oversight: A Field Experiment at Bwindi National Park, Uganda","authors":"Mark T. Buntaine, B. Daniels","doi":"10.2139/ssrn.3371189","DOIUrl":"https://doi.org/10.2139/ssrn.3371189","url":null,"abstract":"Bureaucratic corruption persists in many settings because responsibility for public projects is diffuse, as is responsibility for oversight. We hypothesized that the dissemination of citizen monitoring in ways that give individual authorities specific knowledge of mismanagement would improve the delivery of public projects by activating specific responsibility to correct problems. Working with the Uganda Wildlife Authority, we implemented a field experiment that involved citizen monitoring of a national park revenue-sharing program and the delivery of reports about the implementation status of community projects to the highest-ranking administrative official responsible for oversight. Counter to our expectations, we did not find evidence that the dissemination of reports improved the delivery of revenue-sharing projects. Follow-up interviews found that the targeted officials did not use the information and perhaps even actively disregarded reports to avoid specific responsibility. However, the treatment also provided information to citizens about what they should expect, which instigated several public claims for accountability that officials could not ignore, prompting more aggressive oversight. Based on this alternative channel, we conclude that anti-corruption initiatives based on citizen monitoring need to make specific responsibility unavoidable for relevant officials, but that the strategies for promoting specific responsibility need further consideration.","PeriodicalId":300478,"journal":{"name":"PSN: Comparative Political Institutions & Development (Topic)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115823345","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 Effects of Institutional Quality on Formal and Informal Borrowing Across High-, Middle-, and Low-Income Countries","authors":"Lan Chu Khanh","doi":"10.2139/ssrn.3355247","DOIUrl":"https://doi.org/10.2139/ssrn.3355247","url":null,"abstract":"This paper examines the effects of institutional quality on financing choice of individual using a large dataset of 137,160 people from 131 countries. We classify borrowing activities into three categories, including formal, constructive informal, and underground borrowing. Although the result shows that better institutions aids the uses of formal borrowing, the impact of institutions on constructive informal and underground borrowing among three country sub-groups differs. Higher institutional quality improves constructive informal borrowing in middle-income countries but reduces the use of underground borrowing in high- and low-income countries.","PeriodicalId":300478,"journal":{"name":"PSN: Comparative Political Institutions & Development (Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130492405","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":"U.S. Presidential Cycles and the Foreign Exchange Market","authors":"Samar Ashour, David A. Rakowski, Salil K. Sarkar","doi":"10.1002/RFE.1061","DOIUrl":"https://doi.org/10.1002/RFE.1061","url":null,"abstract":"We examine the association between the foreign exchange rate of the US dollar and US presidential cycles. Results show that Republican presidencies tend to start with a strong dollar, which then depreciates over the course of the presidency. In contrast, Democratic presidencies tend to begin with a weak dollar that then appreciates. These patterns result in an apparent presidential effect in US foreign exchange rates, the direction of which depends on whether exchange rates are measured by levels or by returns.","PeriodicalId":300478,"journal":{"name":"PSN: Comparative Political Institutions & Development (Topic)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122258956","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":"Valuing Peace: The Effects of Financial Market Exposure on Votes and Political Attitudes","authors":"Saumitra Jha, Moses Shayo","doi":"10.2139/ssrn.2716660","DOIUrl":"https://doi.org/10.2139/ssrn.2716660","url":null,"abstract":"Financial markets expose individuals to the broader economy. Does participation in financial markets also lead citizens to re-evaluate the costs of conflict, their views on politics and even their voting decisions? Prior to the 2015 Israeli elections, we randomly assigned financial assets from Israeli and Palestinian companies to likely voters and gave them incentives to actively trade for up to seven weeks. Exposure to financial markets systematically shifted vote choices and increased support for peace initiatives. We delineate the mechanisms for this change and show that financial market exposure led to learning and reevaluation of the economic costs of conflict.","PeriodicalId":300478,"journal":{"name":"PSN: Comparative Political Institutions & Development (Topic)","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133155414","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":"To Be and How Not to Be: The Challenges of Nation-Building in Nigeria","authors":"Adewunmi James Falode","doi":"10.24269/ARS.V7I2.1575","DOIUrl":"https://doi.org/10.24269/ARS.V7I2.1575","url":null,"abstract":"The work is the analysis of both the various nation-building challenges that have confronted Nigeria since independence and the possible ways the country can overcome them. The dream of Nigeria since independence in 1960 is to turn itself into a viable and cohesive nation. This has become an impossible dream however due to a myriad of challenges. Nigeria is a multi-ethnic society with over 250 ethnic groups. Each of these ethnic groups also have religious and economic issues that separates them from one another. Nigeria’s diversity has been a major obstacle in its drive to become a global and responsible player in the international community. By using the qualitative research methodology, the work identified various challenges, such as corruption, autarky, governance and distribution that have been the major barriers to the creation of a viable polity. The style used in the study is also historical, descriptive and analytical. Crucially, the study also used the concept of nation-building as its Theoretical Framework. This has made it possible for the work to highlight and posit specific pragmatic and logical ways Nigeria can overcome its nation-building challenges and emerge a viable, cohesive and functional polity in the 21st century.","PeriodicalId":300478,"journal":{"name":"PSN: Comparative Political Institutions & Development (Topic)","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114663640","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":"Political Instability and Seigniorage: An Inseparable Couple — or a Threesome with Debt?","authors":"F. Bohn","doi":"10.1111/roie.12379","DOIUrl":"https://doi.org/10.1111/roie.12379","url":null,"abstract":"In the literature, political instability is shown to raise seigniorage and/or debt, but there is no debt‐seigniorage trade‐off. However, what happens when the IMF gets involved? Based on a political economy model of intertemporal public finance this paper presents qualitatively new and robust results. First, political instability causes myopic government behaviour and produces more debt, not more seigniorage. Second, IMF policies requiring debtor countries to achieve both monetary and fiscal stability at the same time are ineffective. Third and surprisingly at first sight, debt conditionality aiming at monetary stability is particularly effective in heterogeneous societies with unstable governments.","PeriodicalId":300478,"journal":{"name":"PSN: Comparative Political Institutions & Development (Topic)","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124145240","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":"Flashpoints in Zimbabwe Elections: The Local and Regional Implications","authors":"Dr. Thomas Otieno Juma (PhD)","doi":"10.2139/ssrn.3251304","DOIUrl":"https://doi.org/10.2139/ssrn.3251304","url":null,"abstract":"Elections’ in Zimbabwe are by and large a reflection of elections in Africa. The election history in Africa describes what the recent changeovers/continuity has been in Africa. The transition in African politics from the colonial to strong henchmen of the 1960s for the next three decades, saw Africa go through four phases of authoritarianism. Zimbabwe joins the growing trend of democratization from infantry having been a late independent state. Like other African states, getting independence without defining the ‘form state’.","PeriodicalId":300478,"journal":{"name":"PSN: Comparative Political Institutions & Development (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129523917","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":"Rentier States, International Finance, and Governance","authors":"J. Mahon","doi":"10.2139/ssrn.3284717","DOIUrl":"https://doi.org/10.2139/ssrn.3284717","url":null,"abstract":"The political-science literature is divided on the relationship between resource rents and politics. This may be related to its narrow focus on democracy and on the domestic influences upon governance outcomes. This paper argues that rents are in fact damaging, on balance, but that we need to look at political outcomes beyond democracy while taking account of international causal pathways as well as domestic ones. It also uses the new ICTD dataset while employing regressions with unit fixed effects to avoid omitted-variable bias, The analysis yields two main results. First, a “resource curse” on governance does exist, but in the short term it has more to do with state capacity, corruption, and economic freedom than with democracy or civil liberties. Second, it appears that many of the negative effects of resource abundance are associated with the relaxation of the foreign-exchange constraint — that is, we see them on the current account balance variable more often than on the rents variables. In regressions with five-year lags, the current-account balance appears to constitute the dominant negative influence on democracy and civil liberties — although these effects are not robust to changes in lag length. The main results hold for two measures of resource rents and are robust to the exclusion of observations from the Middle East and North Africa, or observations prior to 1981, and to a “difference GMM” dynamic panel-data analysis.","PeriodicalId":300478,"journal":{"name":"PSN: Comparative Political Institutions & Development (Topic)","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126909903","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}