Emerging Markets Economics: Industrial Policy & Regulation eJournal最新文献

{"title":"Road to Industrialized Africa: Role of Efficient Factor Market in Firm Growth","authors":"M. Nose","doi":"10.5089/9781484373088.001","DOIUrl":"https://doi.org/10.5089/9781484373088.001","url":null,"abstract":"After a decade of rapid growth, industrialization has lost ground with shrinking manufacturing sector and high informality in Sub-Saharan Africa (SSA). This paper explores how land market and labor regulations affect factor allocative efficiency and firm performance in SSA. Using pooled data on firm balance sheets for 40 countries in SSA, the results identify significant land and labor misallocations due to limited market allocation of land and inappropriate regulatory policies. Using variations in ethnic diversity and the intensity of regulatory actions to peer firms at subnational level as instrumental variables, local average treatment effects show large productivity gains from factor reallocations, especially for marginally productive firms. Panel data results for Nigerian firms confirm factor market inefficiency as a principal driver of declining productivity, while showing that the 2011 minimum wage reform increased firm size. The results imply that improving formal regulation is critical to support firm growth at the stage of weak legal capacity, while informal sector monitoring gets effective as legal capacity develops.","PeriodicalId":424970,"journal":{"name":"Emerging Markets Economics: Industrial Policy & Regulation eJournal","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129895491","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":"Rethinking Industrial Policy for the Data-Driven Economy","authors":"Dan Ciuriak","doi":"10.2139/ssrn.3223072","DOIUrl":"https://doi.org/10.2139/ssrn.3223072","url":null,"abstract":"This note reviews industrial policy in theory and historical practice and makes the case for a fundamental reframing based on the centrality of data to the data-driven digital economy, the various roles that data plays in this economy (as medium of digital transactions, as intangible capital, and as infrastructure of a digitized economy), and the heightened scope for market failure in the data-driven economy. It suggests the following five principles to guide the formation of industrial/innovation policy in the knowledge-based and data-driven digital economy: \u00001) Participation in the data-driven economy requires access to truly big data. Small open economies will need to scale up data in order to scale up companies. \u00002) The acceleration of the pace of change and the concentration of wealth in the data-driven economy changes the set of investments with risk-return metrics that the private sector will engage. Public policy must support projects that have social merit but which private capital leaves on the table, and which would be screened out by conventional criteria for industrial policy interventions by the public sector. \u00003) Foreign direct investment policy must take into account the impact of inward M&A investment on the dynamism of innovation systems, in particular where such takeovers would have anti-competitive effects or materially reduce knowledge spillover benefits within a country’s innovation system. \u00004) The rent-based business model of the data-driven economy makes asset accumulation essential for national wealth creation. \u0000Policy must therefore shift from focussing on activity to building a rent-generating stock of technology assets, including by: \u0000(a) adopting a retention policy for domestically-developed knowledge capital developed with public funding support; \u0000(b) giving appropriate weight to the implications for a country’s stock of technology assets of FDI, including the potential loss of technology through inward MA and \u0000(c) ensuring freedom to operate for domestic technology firms through, for example, a state patent fund to address issues related to patent proliferation. \u0000(5) International commitments need to preserve policy space to implement a data strategy to secure a foothold in this emerging economy. \u0000As part of their data strategies, countries should assess the market value of data generated in the exercise of public sector governance; put in place procedures to capture it; and use procurement to develop new capabilities in the private sector.","PeriodicalId":424970,"journal":{"name":"Emerging Markets Economics: Industrial Policy & Regulation eJournal","volume":"145 12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129656677","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":"Patterns of Technical Change and De-Industrialization","authors":"Luis Villanueva, Xiao Jiang","doi":"10.2139/ssrn.3211895","DOIUrl":"https://doi.org/10.2139/ssrn.3211895","url":null,"abstract":"Using a classical political economy approach we find aggregate regularities in the patterns of technical change followed by high income and developing countries (mostly from Latin America and Sub Saharan Africa) respectively. Such regularities allow us to propose an alternative definition of de-industrialization and study the issue of “premature de-industrialization” from a political economy perspective. In the (capital productivity, labor productivity) plane, a characteristic trajectory of high-income countries typically fluctuates in the quadrant where labor productivity growth rates are positive while capital productivity growth rates are negative (the industrialization quadrant). De-industrializing countries, on the other hand, have transitioned from the quadrant with positive labor productivity growth rates and negative capital productivity growth rates to the opposite quadrant (with negative labor productivity and positive capital productivity growth) and remained in this quadrant during the 1980s and 1990s. Both groups of countries, high income and de-industrializing seem to follow a cyclical pattern, revealing that the rate of industrialization is constantly fluctuating with varying labor and capital productivity growth rates. JEL codes : B12, O33, O47","PeriodicalId":424970,"journal":{"name":"Emerging Markets Economics: Industrial Policy & Regulation eJournal","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121948031","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":"Regulating for Telecommunications Competition in Developing Countries: The Case of Papua New Guinea","authors":"Bronwyn E. Howell, P. Potgieter, R. Sofe","doi":"10.2139/ssrn.3368051","DOIUrl":"https://doi.org/10.2139/ssrn.3368051","url":null,"abstract":"Papua New Guinea is a low-middle income developing Asia-Pacific island country with a relatively long history of telecommunications market development under firstly Australian administration, and latterly under a pro-competitive set of regulatory arrangements strongly influenced by Australian policy-making. Nevertheless, it demonstrates some of the weakest sector performance statistics of a range of comparable low-middle income countries in its region. Why does a country with a regulatory regime drawing on current international recommended \"best practice\" perform so poorly? To address this question, we develop an inquiry framework (checklist) for assessing the effectiveness of regulatory arrangements in a developing, as opposed to developed country. Whilst the framework is based on guidelines from the World Bank and the International Telecommunications Union (Blackman & Srivastava, 2011), we adapt these to take account of specific challenges arising in developing countries: limited capacity, limited commitment, limited accountability, limited fiscal efficiency and trade-offs between factors that take account of these limits (Laffont, 2005; Estache & Wren-Lewis, 2010). Applying the inquiry framework to Papua New Guinea, we find that, the most likely explanation for poor performance derives from the government being both regulator and owner of the incumbent, Telikom. Lack of investment and an unstable set of ownership arrangements have constrained Telikom from being an effective competitor. Weaknesses exist in the monitoring and enforcement of regulator accountability provisions, but are unlikely to have altered sector outcomes, although they may have contributed to obscuring poor performance. Introduction of at least one more foreign operator will be beneficial, but only if the government can clearly separate its ownership and regulatory activities and political agents can credibly commit to refraining from interfering in the operational activities of both the incumbent firm and regulatory agencies.","PeriodicalId":424970,"journal":{"name":"Emerging Markets Economics: Industrial Policy & Regulation eJournal","volume":"68 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129329278","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":"Разработка Подходов К Выбору Технологий Новой Индустриализации Российской Федерации (Development of Approaches to the Selection of Technologies for the New Industrialization of the Russian Federation)","authors":"N. Kurakova, V. Zinov, L. Tsvetkova, O. Kupriyanova","doi":"10.2139/SSRN.3166039","DOIUrl":"https://doi.org/10.2139/SSRN.3166039","url":null,"abstract":"Russian Abstract: Развитие международной ситуации требует от России самоопределения в отношении стратегии индустриального развития и выбора технологических направлений, которые могли бы стать локомотивами экономического роста. Работа посвящена обоснованию выбора кластеров технологий, которые могут стать основой новой индустриализации Российской Федерации и позволят экономике страны воспроизводить жизненный цикл своих активов в глобальном измерении (ресурсы, рынки, инвестиции). \u0000English Abstract: The development of the international situation requires from Russia self-determination regarding the strategy of industrial development and the choice of technological directions that could become the locomotives of economic growth. The work is devoted to the substantiation of the choice of technology clusters that can become the basis for the new industrialization of the Russian Federation and will allow the country's economy to reproduce the life cycle of its assets in the global dimension (resources, markets, investments).","PeriodicalId":424970,"journal":{"name":"Emerging Markets Economics: Industrial Policy & Regulation eJournal","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131424910","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":"Unconventional Monetary Policy in the Asian Financial Crisis","authors":"Tamim A. Bayoumi, Joseph E. Gagnon","doi":"10.1111/1468-0106.12254","DOIUrl":"https://doi.org/10.1111/1468-0106.12254","url":null,"abstract":"Some of the policies central banks used during the Asian Financial Crisis had elements of unconventional monetary policy in that they involved the government buying assets that the private sector was unwilling to hold. We focus on public funding of bank recapitalizations in Thailand and the extraordinary purchase of equities in Hong Kong. Although it is important to calibrate these policies appropriately, we believe they helped to stabilize economies through channels that were not well understood at the time of the Asian crisis.","PeriodicalId":424970,"journal":{"name":"Emerging Markets Economics: Industrial Policy & Regulation eJournal","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124122750","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":"국제사회의 공유경제 추진현황과 시사점 (Current Status and Implications of the Sharing Economy in the US, Europe, and China)","authors":"Seung Kwon Na, Eunmi Kim, Eun Hye Choi","doi":"10.2139/ssrn.3147473","DOIUrl":"https://doi.org/10.2139/ssrn.3147473","url":null,"abstract":"The emergence of a new phenomenon widely referred to as the sharing economy has experienced rapid growth over the past few years along with the digital evolution, allowing people to share and optimize underused personal assets on a much larger scale. The fast-paced growth of the sharing economy has taken root worldwide in both the developed and developing countries. In recent years, the sharing economy has disrupted traditional markets and generated difficult legal questions and political debates in various parts of the world. The growth of the sharing economy has led to growing pains for the platforms, participants, and regulators. The problems include legal disputes, taxation, and trust mechanisms. Despite these disputes, however, the three countries have legalized or attempted to authorize the sharing economy in different tactics while trying not to disrupt innovation associated with the sharing economy. The objective of this paper is to identify better policy options in the sharing economy for Korea by examining different countries' policy implications. To achieve this purpose, the structure of this paper is divided into five chapters. The first chapter of the paper develops a conceptual framework that supports to define and explain the sharing economy. The next three chapters touch upon different conflicts and policy implications of the sharing economy across the United States, Europe, and China. Finally, the paper concludes with a discussion of policy implications of the sharing economy for Korea. IT 기술의 발전과 함께 최근 공유경제가 디지털경제 시대에 주요한 혁신동력의 하나로 주목받고 있다. 그러나 한편으로는 공유경제 확산에 따라 기존 경제주체와의 갈등, 제도적 미비로 인한 문제가 나타나면서, 주요국들은 이에 대한 대응책 마련에 고심하고 있는 상황이다. 한국 역시 최근 우버, 에어비앤비의 국내 진출에 따라 다양한 갈등요인이 표출되고 있다. 이처럼 다양한 문제가 제기되고 있음에도 각국에서는 여전히 다양한 공유경제 기반의 비즈니스 모델이 끊임없이 나타나고 있다. 이는 최근의 소비 패턴 변화 등으로 인하여 공유경제 모델에 대한 관심과 요구가 확산되었으며, 디지털 플랫폼의 발전에 따라 공유 경제 활동을 효율적으로 구현할 수 있는 환경이 조성되었기 때문으로 판단된다. 더불어 공유경제는 사회 전체의 후생 증대뿐 아니라 지역경제 활성화, 노동시장의 유연성 확보, 창업 촉진 등 다양한 경제ㆍ사회적 문제 해결을 위한 수단으로서 각국에서 그 정책적 가치를 인정받고 있다. 이에 본 연구에서는 미국, 유럽, 중국 등 주요 국가들이 공유경제의 성장성을 유지해나가는 한편 각종 부정적 영향에 대하여 정책적으로 어떻게 대응하였는지를 살펴보고, 이를 통해 정책적 시사점을 도출하고자 하였다. 다만 광범위한 공유경제 분야를 모두 다룰 수 없기 때문에, 비교적 시장이 활성화되어 있으면서도 논쟁의 중심에 있는 숙박 및 차량 공유에 초점을 맞추어 분석하였다.","PeriodicalId":424970,"journal":{"name":"Emerging Markets Economics: Industrial Policy & Regulation eJournal","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130778889","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":"Should India Stay Away from the Fourth Revolution?","authors":"G. Agrawal","doi":"10.2139/SSRN.3084256","DOIUrl":"https://doi.org/10.2139/SSRN.3084256","url":null,"abstract":"Critics of the Fourth Industrial Revolution raise many concerns against it mainly alleging job losses and rise in inequality. This article debunks these concerns by emphasizing how the same concerns would have been raised at the time of the First Industrial Revolution as well. We then see what happened subsequently benefitting from our knowledge of history. We then go on to examine why things unfolded that way tracing the reasons to the very roots of human behavior. These factors still remain the same, therefore there is every reason to expect that like the previous three, the Fourth Revolution too would be a productivity enhancing one and make lives better for all of us. Any job losses would at best be transitory. We then finally argue that whether she wants the Fourth or not, it will impact India and her economy carried by global trade and capital flows. Thus the only option in reality for her is to prepare herself and not shun it. India is already uniquely poised to reap the benefits. All she needs to do to minimize the temporary pain is to ease out its business regulations – make it less costly for entrepreneurs to hire labor because it is basic economic logic that if hiring labor is more expensive than hiring machines, an entrepreneur will hire a machine and vice versa. Another critical thing she must do is to develop her human resource development and incentivize innovations.","PeriodicalId":424970,"journal":{"name":"Emerging Markets Economics: Industrial Policy & Regulation eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133770328","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":"M- Commerce. El Comercio Electrónico Móvil Y Los Pagos a Través De Dispositivos Móviles (M-Commerce. Mobile E-Commerce and Payments Through Mobile Devices)","authors":"Jair Fernando Imbachí","doi":"10.18601/01236458.N46.08","DOIUrl":"https://doi.org/10.18601/01236458.N46.08","url":null,"abstract":"E-commerce must be in tune with current global trends due to the huge spread and penetration even in developing countries, of mobile services as of smart devices such as Smartphones and Tablets. The absence of harmonic legislation that enshrines the rights and duties of the market participants creates a barrier that prevents its rise and development. Colombia wants to propose to the UNCITRAL, the development of a study to unify not only the consumer’s concerns but also those of the legal practitioners about mobile commerce and mobile payments.","PeriodicalId":424970,"journal":{"name":"Emerging Markets Economics: Industrial Policy & Regulation eJournal","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122359630","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":"Economics of Abuse of Dominant Position","authors":"Ritesh Puri","doi":"10.2139/ssrn.3152416","DOIUrl":"https://doi.org/10.2139/ssrn.3152416","url":null,"abstract":"The economics of competition law has been closely related to that of monopoly and the abuse of dominant position by firms. The paper aims to bring out the role of economics in the determination of abuse of dominant position by a firm in a free market with special emphasis on the factors that are used in defining dominance explained extensively with the use of several cases decided in Indian and in European courts. It also lays down the various exclusionary pricing strategies undertaken by firms in order to exploit potential competitors and customers with a detailed analysis of exclusionary conduct. The concept of collective dominance has also been briefly dealt with, in reference to approaches used in order to determine the effects of cartelization in the market.","PeriodicalId":424970,"journal":{"name":"Emerging Markets Economics: Industrial Policy & Regulation eJournal","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134413854","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}