Costs and potential funding of expanded public pension coverage in Asia

Public pension burdens in most emerging Asian economies are still relatively small. However, there are a number of reasons to believe that they will increase markedly in the coming years. First, many Asian economies will face rapidly ageing populations, which will raise pension and other old‐age‐related spending dramatically. Second, as economies develop, political pressures to expand the coverage of public pensions and raise pension benefits will likely increase. The first objective of this paper is to identify the potential fiscal burden of public pensions in 23 emerging Asian economies, based on econometric models and forecasts of GDP and demographic trends. Using two different methodologies yields estimated increases in the average share of public pension expenditures in GDP of 1.0 percentage point and 3.6 percentage points by 2030 compared with current levels. We believe the latter estimate is more realistic. The second objective is to recommend policies to provide adequate funding for public pension needs, including enhancing the efficiency of social insurance programs, improving the balance of revenues and expenditures, implementing more explicit fiscal rules and frameworks, and establishing stronger fiscal surveillance at the national and regional levels.     

Measuring Employment Security in Europe Using Surveys of Employers

Using results from surveys in which employers were questioned about their freedom to shed staff, we develop a measure of employment security in Europe. We seek to identify which institutional factors are correlated with the responses of employers and find that they appear to reflect the strength of legal restrictions and trade unions and the prevalence of atypical employment. Our results are used to compile an index of employment security that has both a temporal and a cross‐country dimension.     

On the E-optimality of truncated block designs

Sufficient conditions are found for designs, derived from completely symmetric designs by deleting binary blocks, to be E-optimal. Sufficient conditions are also found for E-optimality of designs obtained from other E-optimal designs by deleting all blocks forming a balanced incomplete block design on a subset of the treatments. The results include many binary and non-binary designs for which E-optimality was previously unknown.     

Informal group influence among situationally/dispositionally-oriented consumers

Consumer susceptibility to reference group influence has been demonstrated for certain products and buying situations. This article reports a study designed to determine if reference group influence varies between consumers classified as situationally-oriented and dispositionally-oriented. Results indicate a considerable difference between the two groups. Independence Health Plan     

Winner-take-all price competition

Summary. We analyze an oligopoly model of homogeneous product price competition that allows for discontinuities in demand and/or costs. Conditions under which only zero profit equilibrium outcomes obtain in such settings are provided. We then illustrate through a series of examples that the conditions provided are “tight” in the sense that their relaxation leads to positive profit outcomes. Received: April 7, 2000; revised version: September 14, 2000     

Development by Decree: The Limits of ‘Authoritarian Modernization’ in the Russian Federation

The apparent success of state‐managed market economies has challenged the conventional wisdom that liberal democracy is the norm around which all capitalist countries tend to converge. If the link between democracy and development is more tenuous than we often think, the authoritarian variety of capitalism is not without its own problems, especially with respect to political legitimacy, innovation and regional development. This article explores these issues through the prism of ‘authoritarian modernization’ in Russia. We argue that this strategy is unlikely to succeed, even in its own terms, because (1) the political system fails to create favourable institutional conditions for modernization; (2) the economic system is beset by deeply embedded structural problems; and (3) the regional policy apparatus is torn between the goals of spatial equalization and spatial agglomeration. The article focuses on the Skolkovo Innovation Centre, the main symbol of Russian modernization, to demonstrate the territorial repertoire of the mega‐project, a state‐sponsored development strategy to create innovation clusters from above because they cannot emerge from below.     

Managerial,organizational, and external drivers of sales effectiveness in export market ventures

The authors extend sales management theory by considering the role of export sales management in small- and medium-sized firms, and they develop an integrated model of export sales organization effectiveness. Specifically, the authors test 16 hypotheses that examine the relationships among export sales management control, export territory, psychic distance, export sales performance, and export sales organization effectiveness. Using a mail-survey approach, data were collected from U.K.-based export sales managers in 146 direct exporters of industrial products. Though certain anomalies are observed, the research findings support many of the hypothesized associations, confirming the robustness of existing sales management concepts and theories in an export-marketing context.