Long-term development prospects of the Russian information and communications sector

This paper presents a development forecast for the Russian information and communications sector. Two scenarios-inert and innovative investment—are explored for each period. According to the results of our study, in the period from 2010 to 2030, the output of the Russian information and communications sector will increase by a factor of 3.52–4 under the investment scenario and by a factor of 2–2.5 under the inert scenario. This is due to the limited private and public resources that could be invested in the sector on a large scale, as well as to the absence of basic innovation in the area of information and communication technologies, which could have a significant economic impact and provide a basis for a new technological order. It is concluded that the information and communications sector is running out of its market expansion potential.     

Investigation into the small business sector in the RSA,with specific reference to factors that may retard the growth and development thereof,Report 1/1984 of the National Manpower Commission,published by the Council for the Promotion of Small Business

Although considerable initiative had been taken in South Africa with regard to stimulating the small business sector, it appeared that there was a relative lack of information on the legal restrictions retarding the development of this sector. The National Manpower Commission (NMC) therefore invited several interested organisations to form a working group to give attention to these restrictions. In addition to the legal restrictions, the working group also gave attention to the definition of a small business, the extent (or the job creating potential) of the small business sector and other restrictions existing in respect of this sector. This review comprises a summary and discussion of the report.     

The investment policy of the railroad sector under reform

The feasibility of the railroad sector reaching its long-term development goals and developmental factors and limitations are analyzed against the background of structural changes in the sector. Investment policy, investment attraction mechanisms under limited financial resources, the principles of development of regional investment policies, and regional investment programs and projects are discussed. The sector’s internal development reserves during its investment policy are analyzed.     

Understanding the Growth of African Financial Markets*

Abstract: This paper examines empirically the determinants of financial market development in Africa with an emphasis on banking systems and stock markets. The results show that income level, creditor rights protection, financial repression, and political risk are the main determinants of banking sector development in Africa, and that stock market liquidity, domestic savings, banking sector development, and political risk are the main determinants of stock market development. We also find that liberalizing the capital account promotes financial market development only in countries with high incomes, well‐developed institutions, or both. The powerful impacts of political risk on both banking sector and stock market development suggest that resolution of political risk may be important to the development of African financial markets.     

Information communication technologies and the potential for rural tourism SMME development: The case of the Wild Coast

This article explores how information communication technologies (ICTs) can help tourismbased small, medium and micro-enterprises (SMMEs) address their constraints to growth and development in rural South Africa. More specifically, it reports on research conducted in the Wild Coast region of the Eastern Cape province focussed on the constraints, and related information needs affecting the success of rural SMMEs operating in the tourism industry, and explores how ICTs might address these limitations. Within the context of the constraints faced by rural SMMEs, this article examines the information needs and current patterns of communication that impact on the development of the sector, the nature of tourism SMMEs in the case study area, and the potential use of ICTs to support tourism-based SMME development in rural areas.     

江苏省信息产业发展与经济增长关系研究

文章以江苏省2000-2012年信息产业和经济发展的面板数据为研究对象,运用ADF单位根检验和格兰杰因果关系模型检验出江苏省信息产业和经济增长的关系是互为因果关系;进一步借鉴菲德模型评估江苏省信息产业对经济增长的直接效应和溢出效应,结果显示:江苏省信息产业对经济增长以及对非信息产业产生的外溢效用都不是很显著,但信息产业的边际生产力远远高于非信息产业。     

On the Development of Russia’s Information and Communication Technologies Ecosystem

A quantitative model of Russia’s information and communication technologies (ICT) ecosystem has been proposed that describes the main relationships between its participants, as well as the impact of environmental factors on the functioning of the ICT ecosystem. Based on the model, we have assessed the long-term (until 2030) potential for the development of Russia’s ICT sector in the case of the state’s active and stimulating strategy and the formation of an advanced system of institutions. We have also evaluated the contribution of the ICT sector to the macroeconomic dynamics while implementing the target scenario.     

Greening of Chinese industrial sector: Stakeholders' responsiveness to non-governmental environmental monitoring

By merging all the industrial enterprises above designated size (over 300 thousand in 2013) at both the city level and the industry level, we examine the green transformation process of China's industrial sector for nearly 300 prefecture-level cities between 2004 and 2013. Since about 40% of these cities are under non-governmental environmental monitoring by means of releasing the pollution information transparency index (PITI) annually, we then empirically evaluate the green responses of Chinese industrial sector to the non-governmental environmental monitoring from a randomized natural field experiment by employing a difference-in-differences (DID) approach. The results indicate that the PITI release by a third party could significantly contribute to the green transformation of local industrial sector, and the effects are stronger in cities with more stringent environmental regulation and higher levels of economic development and marketization. Moreover, production factors appear to be reallocated from the polluting sectors to the non-polluting sectors to green the industrial sector. Specifically, more and more capitals and labors are invested in the non-polluting sectors in the cities with the PITI disclosure. Existing firms may exit the market, and forthcoming polluting firms are nipped in the bud.     

The Information Revolution in the Asian-Pacific Region

In this paper, an attempt is made to survey literature dealing with these developments in the Asian-Pacific region. Section I explores the information sector. Section II focuses on telecommunications, the leading edge of the information infrastructure. Section III reviews writing about 'IT-led development', the view of information technology as a powerful tool for the promotion of socioeconomic development. Section IV looks at the role of the World Bank, the largest single hard-currency source of finance for telecommunications in developing countries. Section V reports on some aspects of IT trade and internationalisation. Section VI provides summary country case studies. Section VII raises some questions about the link between telecommunications and economic development.     

市场经济应为“利用”一词正名倡导公有制经济与非公经济间的相互“利用”

社会主义市场经济体系中存在着“公有制经济”和“非公有制经济”两种类型的经济成份,多年来,我们比较多地把非公有制经济当作一种在需要时便加以利用的对象,而没有强调非公有制经济也有利用公有制经济的一面,即二者是相互利用的,这显然是不全面的。实际上,承认和提倡公有制经济与非公有制经济的相互利用和合作,反映了社会主义市场经济的本质要求,有利于社会主义市场经济均衡、健康和持久的发展。     

Characteristics of Private‐Sector Tractor Service Provisions: Insights from Nigeria

Agricultural mechanization has been integral to agricultural transformation during periods of development. Mechanization‐service provisions can be constrained by economies of scale, seasonality, limited mobility, or heterogeneous inputs quality. However, information has been scarce regarding how the private sector has overcome these constraints especially in countries like Nigeria that are at low agricultural development stages. We present the results of a small survey of tractor owner‐operators conducted in Nigeria. We find that existing private‐sector tractor‐hiring services in Nigeria are indeed constrained. However, we also find heterogeneity among these owner‐operators. In particular, those who buy tractors from private markets or from private individuals are more efficient than those who receive tractors through government programs, providing services to a greater area at lower costs, including during off‐peak seasons, sometimes selecting machinery types according to soil types. We conclude with a discussion of some policy implications.     

The rise of the service sector in China

This paper analyzes the underlying mechanisms that explain the rise of the service sector in China. Along with China’s unprecedented growth, the rapid expansion of its service sector is one of the fastest among emerging countries. However, the literature has yet to offer a clear understanding of such expansion. We show that distribution services first grow with the manufacturing sector, followed by personal services as per capita income rises. Motivated by this growth pattern, this paper provides a theory that describes 1) the complementarity between distribution services and the manufacturing sector, and 2) the substitution between personal services and home production. Empirics show that the personal service sector is the key to account for the early and rapid rise of the service sector in China. Quantitatively, high productivity growth and high capital intensity in the personal service sector, and labor market frictions are the most important channels. By revealing the growth pattern of the service sector in the early stages of development, the paper thereby contributes to the growing literature on the rising importance of the service economy.     

Human capital in the financial sector and corporate debt maturity

This study examines how human capital in the financial sector affects corporate debt maturity. To illustrate the mechanisms underlying the effects, we propose a theoretical framework that highlights the effects of human capital in the financial sector on mitigating the information asymmetry between financial intermediaries, households, and firms. Using the Chinese National Economic Census in 2008 and the Industrial Enterprises Database over 2011–2013, we find that the financial sector's human capital plays a significant and positive (negative) role in short-term (long-term) debt and this effect is more pronounced for firms with greater information asymmetry. Further analyses demonstrate that the baseline findings are consistent with the credit supply hypothesis. Our study indicates that human capital in the financial sector strengthens its renegotiation capacity for corporate borrowing, which is consistent with China's financial repression policy and leads to increased exposure of firms to credit and liquidity risks.     

工资对个人劳动供给的非线性影响：部门市场化程度差异视角

从市场经济体制的建立到经济社会高质量发展，我国不同部门市场化程度有所差异，劳动供给的部门异质性随之体现。基于中国劳动力动态调查数据，结合汉森门槛回归模型和劳动供给模型，依托部门市场化程度的差异性，文章探讨了工资对劳动力个人供给的非线性影响及其部门异质性。主要得出以下研究结论：第一，我国市场部门与公共部门劳动力的个人劳动供给有所差异。第二，工资与个人劳动供给呈现非线性关系并且存在部门异质性。实证分析结果显示，工资对个人劳动供给的影响存在三个"突变点"，工资门槛均使得工资"激励效应"加强并呈现逐步增加的趋势。第三，劳动供给的工资门槛存在性别、城乡和行业异质性。第四，随着年龄增长、人力资本积累，个人劳动时间供给趋于降低，签署书面劳工合同使得市场部门劳动力工作时间显著增加，而政治面貌显著影响公共部门劳动供给。总体来看，无论是市场部门还是公共部门，我国劳动力个人供给曲线均未"向后弯曲"，国民经济高质量发展、改善收入分配格局、提升居民幸福感等议题需持续关注。     

Testing the Validity of the Simultaneous Openness Hypothesis in Nigeria (1990–2015)

Since the seminal paper by Rajan and Zingales in 2003, a plethora of studies have been motivated to establish whether the simultaneous opening of trade and capital borders leads to financial sector development. We test whether the simultaneous openness hypothesis is valid for Nigeria, with a focus on the banking sector and stock market. Using annual data from 1990 to 2015 and an instrumental variable regression estimation technique, we show that the simultaneous increase of trade and financial openness limits banking sector and stock market development. Thus, there is no empirical evidence to validate the simultaneous openness hypothesis in Nigeria. It also shows that trade openness is more beneficial for banking sector and stock market development in Nigeria than financial openness.     

Contribution of external aid agencies to the social sector: Lessons for South Africa

The contribution of a major aid agency, UNICEF, to the social sector in three African countries is reviewed and important lessons are drawn for developing the social sector in South Africa. UNICEF's commitment to children and women and its substantial development expertise bestow many advantages on developing bilateral relations with UNICEF. It is equally important to develop sound social policies and adequate community‐based programmes in which UNICEF's expertise and resources can be incorporated. Guidelines are formulated for reducing dependence and vulnerability to donor assistance in the social sector.     

Integration, embeddedness and local economic development. The case of the clothing industry in Coventry

This paper examines the ways in which a new sector is linked to a local economy, and the implications for local economic development. The focus is on the clothing industry in Coventry which survey evidence suggests operates independently and in isolation. A major reason is that the sector is only weakly embedded in a social sense. Clothing manufacturers have a low social profile and contribute little to the institutionalised business life of the city. The consequences of low integration are examined, as are the steps necessary to anchor the sector within the local area.     

Banking Sector Development and Energy Consumption in Nigeria: Exploring the Causal Relationship and its Implications

This study examines the causal relationship between banking sector development and energy consumption in Nigeria over the period 1971–2013 incorporating crude oil price and indicators of economic performance. An autoregressive distributed lag bounds testing approach to cointegration provides evidence of long‐run relationship among the variables. The long‐run and short‐run estimates suggest that a non‐linear inverted U‐shaped relationship exists between banking sector development and energy consumption in Nigeria, indicating that initially, energy consumption increases as the banking sector develops and then declines as the banking sector matures to generate efficiency in energy consumption. In addition, this study explores the direction of causality between the variables using the Toda–Yamamoto Granger causality test procedure. The results suggest that a unidirectional causality runs from crude oil price to banking sector development, from banking sector development to energy consumption and from energy consumption to economic growth. It may therefore be necessary for policy makers in Nigeria to incorporate banking sector development in the energy and sustainable economic policies.     

Environmental Performance Assessment of China's Manufacturing

This paper applies the data envelopment analysis approach to contribute to the debate on the environmental performance of China's manufacturing sector. Regional and periodic differences in environmental efficiency, environmental quantity and environmental change indexes in China's manufacturing sector are examined for the period between 1998 and 2002. Within the framework of data envelopment analysis and distance functions, environmental quantity and environmental change indexes are measured as variants of the Malmquist quantity index. The overall environmental efficiency of China's manufacturing sector is very low, indicating substantial potential to reduce pollution emissions in China's manufacturing industries. The results and implications of this study can provide helpful information to improve the environmental performance of China's manufacturing sector.     

An analysis of the Russian banking model versus the Chinese one

This paper draws a parallel with the banking model of China’s development in terms of government presence in the banking sector and mechanisms of financing of the real sector of the economy.