Prioritization of government expenditure on health in India: A fiscal space perspective

Unequal distribution of fiscal resources and lower prioritization of budget towards healthcare are the most important challenges in achieving universal health coverage in India. This study has examined relationships between government health expenditure and fiscal space (i.e. tax revenue, non-tax revenue, fiscal transfer, and borrowings) in twenty-one states of India for the period of 1980–2014. Our panel regression results imply that mobilization of tax revenue has a positive impact, while borrowings have a negative impact on the allocation of government expenditure on healthcare in the long-run. The panel quantile regression results show that states associated with the low and middle level of revenue growth have been mobilizing finance through central government transfer and borrowings in short-run. Further, the panel vector error correction models show that sum of the lagged coefficients of borrowings have a greater impact on health financing process as compared to other sources of fiscal space at short-run, and the speed of adjustment towards long-run equilibrium is relatively slower. The overall analysis concludes that less domestic revenue mobilization and higher dependency of borrowings for healthcare financing may create fiscal stress on state finances in the long-run, and thereby it could possibly reduce the prioritization of spending. Therefore, improvement in revenue growth and proper utilization of fiscal transfer would be appropriate policy implications from this study.     

Complex Network of Aviation E-Services in the Belt and Road Initiative: A Heuristic Study of Small Data based on Block Modeling

ABSTRACT

The aviation e-service system is an important part of support for business communication in regions covered by Belt and Road initiative. In exploring the role of airline companies in this system, we examine the structure of the network, which consists of airlines interconnections based on small data of individual attributes of aviation companies in aviation e-services, and study these interconnections across different groups using block modeling. The heuristic solution of airline companies in development of international communication and cooperation is further discussed. Among our policy implications for global managers, we suggest the enhancement of cross-regional cooperation among airlines.     

The role of imports for exporter performance in Peru

Using highly disaggregated firm‐level customs data for imports and exports in Peru over the 2000–12 period, we explore the relationship between imports of intermediate inputs and firm export performance. The evidence shows that greater use, variety and quality of imported intermediate inputs are significantly correlated with higher export levels and growth, greater market diversification and higher export quality at the firm level, even after controlling for unobserved firm heterogeneity. Exporter–importers exposed to higher tariffs, and non‐tariff measures import less in total and exhibit lower import variety, whereas those using an advance customs clearance procedure designed to facilitate imports exhibit higher imports and a more diversified bundle of inputs.     

Do Indian States Mimic,Compete or Interact in Local Public Spending? A Spatial Econometric Analysis

This paper analyses spatial interaction in public spending decisions across 22 Indian states during the period 1980–1981 to 2014–2015. In particular, we estimate interactive hypotheses for different proximities of states using a spatial panel data approach. The empirical results support strong spatial interaction and yardstick competition in public spending. Interactive behavior among the states has been found to be consistent and conditional on per capita income, fiscal transfers, infrastructure, literacy and population density. Interaction arising from yardstick competition significantly affects public spending decisions. The present study realizes the need for a well‐developed and comprehensive network to strengthen the interdependence in public spending among the states for higher welfare gain.     

Status of brands in children’s consumption: What letters to Santa posted on La Poste website tell us

The purpose of the research is to identify different consumption styles based on a large collection of letters to Santa written by some children and/or their families and submitted to the French Post website (La Poste). One of our main interests focuses on the presence and weight of brands and licenses in children’s wish lists. We have had access to all the anonymous posts sent to Santa Claus through La Poste’s website during the 2013 and 2014 Christmas holidays. We analyzed the nature of the wish lists as shown in the 43,000‐post database using several textual data analysis techniques. Extensive heterogeneity was found among children’s and families’ postures regarding that specific ritual. The different types of emails reflect the meaning families associate with Christmas time but also their different consumption styles or attitudes toward consumption: reasoned, educational, hedonistic, or materialistic, for example. When focusing on brands and licenses, we can also observe significant differences in the way families and children include them in their consumption decisions. Brands could have a very different weight in Christmas wish lists and their natures reflect different value transmission modes. The French market for Christmas children brands is rather stable and focuses on a few top leading global brands such as Playmobil, Barbie, or Lego. At least one of the ten leading brands is mentioned in half of evaluated Christmas wish lists. The analysis confirms that brands are very clearly gendered and associated with the children’s ages. Peak time for brand desire is alleged to be reached between the age of 7 and 9. To our knowledge, our research is the first to analyze a large sample of spontaneous data to capture children’s consumption styles and attitudes toward brands. Because of our classification, a first typology of parental consumption styles has also been identified.     

高分1号冬小麦解译面积核算方法研究

[目的]以高分1号(GF-1)融合2m卫星遥感影像为基础数据源,结合土地利用现状数据、高分多源遥感影像和地面样方等数据,对冬小麦分类提取中存在的面积误差问题进行研究和分析。[方法]文章以河南省永城市为研究区,在冬小麦提取结果聚类处理基础上,基于线性地物缓冲区数据,采用GIS空间运算实现线性地物面积扣除,接着分析了样方数据和土地利用现状数据再扣除零星地物面积比例上的差异,并采用样方零星地物平均扣除系数对全市各乡镇耕地与非耕地中冬小麦提取面积进行了相关统计和误差分析。[结果]永城市冬小麦最终解译面积11. 29万hm~2,其中线性地物和零星地物扣除面积分别为6 613. 08hm~2和3 875. 22hm~2,占研究区冬小麦解译面积的5. 86%和3. 32%,与统计上报数据相比,其处理前后误差由14. 12%降低至4. 41%,有效地提高冬小麦提取面积精度。[结论]误差来源分析与修正对冬小麦解译面积核算精度具有重要影响,该研究为县级区域尺度下冬小麦面积提取核算提供了思路和借鉴。     

Industry risk transmission channels and the spillover effects of specific determinants in China’s stock market: A spatial econometrics approach

This paper uses a spatial econometrics approach to study the industry risks in China’s stock market. We comprehensively consider the real linkage and information risk transmission channels and analyze the risk spillovers of specific determinants. Our empirical results show the following: 1) The real linkage channel and information channel are both effective transmission channels for driving spillover effects, and the information channel is of the utmost importance. 2) The spillover effects of specific determinants exist and are persistent. The superposition of spillover effects may lead to extreme risk. 3) The transmission channels and spillover effects are asymmetric in different regimes.     

The determinants of austerity in the European Union 2010–16

This paper aims at decteting what drove the adoption of austerity policies over the period 2010–16 in a panel of 28 European countries. Austerity is identified by year increases in the ratio between the structural primary balance and potential GDP. By means of principal component factor analysis we select the aggregate factors that might affect austerity, namely (i) fiscal consolidation (correction of high deficits and debts), (ii) market discipline (high sovereign spreads, low ratings), (iii) rule-based fiscal discipline (compliance with the Eurozone rules), and macroeconomic stabilisation (consideration for the cyclical position of the economy). Then we estimate a dynamic panel model with the system-GMM method. Results show that the most important contributions to austerity are provided by the market discipline and fiscal consolidation factors together with Excessive Deficit Procedures, with no significant role played by concomitant macroeconomic conditions. Overall, governments complied with orthodox fiscal principles and rules.     

Big data hedonic pricing: Econometric insights into room rates’ determinants by hotel category

This research uses a big dataset of online prices published on Booking.com by three-, four- and five-star hotels located in Madrid (Spain). Data is broadened by other sources, resulting in a rich set of context-, hotel- and offer-based variables. This research aims to determine the impact of these variables on the online room prices set by one representative sample, featuring the total pricing behaviour as well as per hotel categories. The variables considered, their extent and the insight per category represent a novelty and complement the literature on demand forecasting and hedonic pricing, enabling the improvement of optimisation techniques. The models, based on regression analysis with random effects, reveal a significant impact of the variables on room prices and a clearly distinct behaviour for five-star hotels. This research contributes to the scientific community and practitioners by showing the pricing dynamics behaviour of an important urban destination by star rating.     

Media-Based Sentiment Indices as an Alternative Measure of Consumer Confidence

In this paper, we consider the feasibility of constructing online sentiment indices, using large amounts of media data, as an alternative to the conventional survey method used to create the consumer confidence index in South Africa. A clustering framework is adopted to provide an indication of possible candidate sentiment indices constructed from a combination of different text sources and dictionaries that best mimic the traditional survey-based consumer confidence index from the South African Bureau for Economic Research (BER). The results conclude that it is possible to create an index using sentiment analysis using online editorial data that does resemble the BER’s consumer confidence index. The different media-based sentiment indices (MSI) show a significant level of correlation and co-movement with the BER’s CCI. Impulse responses and cross-correlation functions indicate that the MSI could potentially lead the survey-based method up to two quarters. Furthermore, Granger-causality tests show that the media-based indices are good predictors of future consumer confidence index values. The results provide motivation for further study on the use of sentiment-based techniques and online media data sources to track consumer confidence within an emerging market such as South Africa.