{"title":"Co-investment in the Sharing of Telecommunications Infrastructure","authors":"François Jeanjean","doi":"10.2139/ssrn.3934437","DOIUrl":"https://doi.org/10.2139/ssrn.3934437","url":null,"abstract":"This paper studies the effects of infrastructure sharing agreements on telecommunications markets. Using an oligopoly model with an investment stage where firms compete \" à la Cournot\", I find that provided no firm is excluded, infrastructure sharing agreements decrease prices, increase consumer surplus and subscriptions, however, it does not necessarily increase producers surplus nor welfare. The infrastructure sharing agreement is all the more effective when the most efficient operators are involved.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125080790","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":"Protective Measures in Integration Agreements and Their Impact on Mutual Trade and Trade with Third Countries: Specifics of Russia and the EAEU Countries","authors":"Y. Zaytsev, M. Baeva, A. Knobel, А. Н. Лощенкова","doi":"10.2139/ssrn.3927345","DOIUrl":"https://doi.org/10.2139/ssrn.3927345","url":null,"abstract":"This research provides review of impose trade remedies (antidumping, countervailing measures, safeguard measures) and conduct relative investigation as well as sanitary and phytosanitary measures (SPS) against certain trade partner by different countries in 1995–2015. This research considers theoretical aspects, empirical studies of introduction of trade measures in integration blocks like NAFTA, MERCOSUR, ASEAN, Pacific Alliance, EAEU, TTP (countries-signers) and RCEP (negotiated parties) against members and third countries. Furthermore, trade measures imposed by Russia and imposed against Russia are considered. The paper was prepared as part of the research work of the state assignment of the RANEPA","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"82 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129212968","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":"Will they Survive? Why City Councils Prematurely Collapse","authors":"Federico Quaresima","doi":"10.2139/ssrn.3802620","DOIUrl":"https://doi.org/10.2139/ssrn.3802620","url":null,"abstract":"Despite the burgeoning literature concerning national cabinets stability, \u0000municipal governments’ early terminations have received little \u0000attention. Since recently there has been a surge of public services assigned \u0000to municipalities in countries throughout the world the question \u0000appears worthwhile. The present work aims to fill the gap with \u0000the state-level literature, researching the political and socio-economical \u0000factors that could make city councils prematurely collapses more likely. \u0000Specifically, after a brief review of the literature, I investigate towns’ \u0000cabinets tenure based on an original data set of 6235 Italian local administrations \u0000from 1999 until 2012. Being the issue at the municipal \u0000level rather uncharted, I will make use of the previous research verifying \u0000the hypotheses developed until now and proposing new possible \u0000explanatory characteristics which can contribute to the understanding \u0000of the phenomenon.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124118528","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":"Инстаграм как пространство продвижения личного бренда (Instagram as a Personal Brand Promotion Space)","authors":"D. Shcherbakova","doi":"10.2139/ssrn.3813051","DOIUrl":"https://doi.org/10.2139/ssrn.3813051","url":null,"abstract":"<b>Russian abstract:</b> Создание личного бренда как собственного образа в глазах других людей стало актуальным трендом последних лет. Одной из платформ продвижения личного бренда является социальная сеть Инстаграм. Популярность сети растет год от года, как и объем капиталов. Инстаграм имеет как ряд преимуществ для развития бренда, так и свои недостатки.<br><br><b>English abstract:</b> Creating a personal brand as your own image in the eyes of other people has become an actual trend in recent years. One of the platforms for promoting a personal brand is the social network Instagram. The popularity of the network is growing year by year, as is the volume of capital. Instagram has several advantages for brand development, as well as its disadvantages.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123790110","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 African Continental Free Trade Agreement (AFCFTA): A Catalyst to Nigerian Trade","authors":"Olayinka Shado","doi":"10.2139/ssrn.3866066","DOIUrl":"https://doi.org/10.2139/ssrn.3866066","url":null,"abstract":"Nigeria’s signing of the African Continental Free Trade Agreement in 2019 spurred a lot of deliberations on the impact it portends for the economy and the continent as a whole. At the start of 2021, the stage was finally set for the commencement of trading activities across the continent. While many have expressed fears that the infrastructure deficit of the country and the lack of political will may significantly affect the implementation of the agreement, one must not lose sight of the numerous benefits that the newly established trade bloc avails Nigeria. This paper examines the potential impact of the agreement on trade in 3 key sectors of the Nigerian economy namely, agricultural, manufacturing and service sectors. In essence, it reveals that the agreement indeed is a potential catalyst to Nigeria’s trade in goods and services.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115007202","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":"Policy Uncertainty and Customer Concentration","authors":"Woon Sau Leung, Jiong Sun","doi":"10.2139/ssrn.3732304","DOIUrl":"https://doi.org/10.2139/ssrn.3732304","url":null,"abstract":"Using data involving customer-supplier relationships and a large sample of U.S. publicly listed firms, our study documents a negative and statistically significant relationship between economic-policy uncertainty and firms’ customer-base concentration. The negative relation is predominant in firms with higher inventory efficiency and those operating in competitive, high-R&D, and nondurable industries. Customer-base diversification is further shown to enhance firm performance during periods of increasing policy uncertainty, but not when policy uncertainty decreases. Overall, our evidence suggests that firms respond to increasing policy uncertainty by diversifying their customer base and such behavior contributes positively to firm performance.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122061057","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":"Diaspora and Small Country Economic Development","authors":"Aleksandr V. Gevorkyan","doi":"10.2139/ssrn.3742985","DOIUrl":"https://doi.org/10.2139/ssrn.3742985","url":null,"abstract":"The promise of diaspora business networks is yet to materialize in a sustainable fashion. This paper offers a realistic, survey-based, perspective of diaspora driven economic development in small economies of Europe and the former Soviet Union. Emphasizing new waves of international migration and remittances flows, the literature puts disproportionate hope on diaspora to fill the structural voids, what this paper calls a diasporization argument, to motivate international business growth. Informed by a unique Armenian Diaspora Survey, this paper critiques the conventional view and proposes a new analytical framework, reaching three conclusions. First, a diaspora is a multilayered socioeconomic construct, diminishing its first-mover potential. Second, any successful engagement is a function of a sustained interaction of a diaspora with homeland. Finally, in the absence of systemic engagement infrastructure, a diaspora transfer of nonmonetary skills is short-lived. Thus, small open economies remain structurally disadvantaged integrating international business networks. This paper attempts to inform international business and policy literature on small open economies that are seeking to diversify their development approaches, especially following the 2020 economic and health crises.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"66 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116457293","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}
Semei Coronado, José Martínez, Francisco Venegas-Martínez
{"title":"Spillover Effects of the Us Economic Policy Uncertainty in Latin America","authors":"Semei Coronado, José Martínez, Francisco Venegas-Martínez","doi":"10.4067/s0718-52862020000200273","DOIUrl":"https://doi.org/10.4067/s0718-52862020000200273","url":null,"abstract":"This paper is aimed at assessing the spillover effects of the US Economic Policy Uncertainty (EPU) in macroeconomic variables of major Latin American Countries (LAC): Mexico, Colombia, Brazil, and Chile. To do that, we estimate a set of two-country Structural Vector Autoregressive (SVAR) models for 1997-2019; each model includes the US and one of the LAC. We use the following variables: EPU indexes, exchange rates, consumer price indexes, industrial production (IP), and interest rates (IR) of the US and the studied LAC. The main finding is that positive shocks in the US EPU index lead to currency depreciation for all four LAC; the largest effect is for Mexico. Other statistically significant results are a brief and small positive impact on Colombia’s IP and a positive impact on Mexico’s IR. The remaining LAC’s estimates are statistically insignificant. For this reason, we applied Rossi and Wang’s (2019) robust Granger causality tests that considers structural breaks. Finally, the estimates before and after the 2008 financial crisis suggest that LAC became slightly more responsive to US EPU shocks after the crisis.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126234447","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":"Capital Structure and Performance Implications of Special-Purpose Governments","authors":"Judith M. Hermis, R. Eger","doi":"10.2139/ssrn.3480075","DOIUrl":"https://doi.org/10.2139/ssrn.3480075","url":null,"abstract":"Do special-purpose governments (SPGs) mimic the capital structure of private firms, when SPGs lack the market mechanism for discipline to which private-sector entities are subject? If so, what implications do those choices have on SPG performance? This paper answers these questions. SPGs are local, quasi-governmental entities established by state legislatures who have the operating flexibility of private corporations. In the United States, there are over 50,000 special-purpose governments with outstanding (and off balance-sheet) debt totaling one trillion dollars. Despite their contribution to national fiscal health, SPGs remain relatively underexplored. Using a sample of transportation SPGs over 20 years, we find that SPGs follow Myers’ and Majluf’s pecking-order theory of capital structure. Additionally, we find that increases in SPGs’ debt predicts increases in revenues and decreases in cash flows. These results help illuminate a poorly understood branch of America’s public sector.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122891117","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":"Toward a Three-Sectoral Reproduction Model of Fixed Capital Depreciation and Investment-Driven Economic Growth: Theory and Policy Simulations from Chinese Input-Output Data","authors":"Bangxi Li, Chong Liu, J. Shen","doi":"10.2139/ssrn.3679853","DOIUrl":"https://doi.org/10.2139/ssrn.3679853","url":null,"abstract":"The accelerated depreciation policy on fixed assets is a representative tax reduction policy in China. However, it is rarely systematically studied on the macro-level. This paper builds a general model for analysing accelerated depreciation. It uses China's input-output data (1987-2015) to test and quantify the role of accelerated depreciation in promoting economic growth under different asset structures. The results show that accelerated depreciation with investment has a positive effect on economic growth. It becomes more significant as the depreciation period shortens, and is also limited by the asset structure. This paper discusses the possible situations in which tax incentives are not used for investment, and finds that shortening the depreciation period leads to a negative adjustment in economic accounting. This effect has a depreciation turning point where the rate of change increases sharply; this corresponds with the minimum depreciation period for accelerated depreciation in real terms. This paper proposes a method of estimating the depreciation turning point, and calculates the minimum weighted average of the accelerated depreciation period in China (1987-2015), thus providing effective proposals for the formulation and implementation of related economic policies.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134206802","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}