This paper uses input–Output elasticities to identify important economic sectors. Elasticities of output employment and income are used to identify key sectors of the Greek economy. A comparison of the rankings of economic sectors based on input–output elasticities with those based on net backward linkages indicates significant divergence in sectoral rankings obtained from the two approaches. The elasticity approach yields more consistent estimates of sectoral output employment and income potentials than the net backward linkage approach. Measured in terms of the potential to generate output employment and income agriculture services and textiles are found to be the key sectors for the Greek economy. 相似文献
Movements in wages for subjects of the Netherlands Indies for the period 1908-1917 are analyzed. The analysis reveals a sharp increase in inequality between the ethnic indigenous and Chinese communities between 1910 and 1916, the period of the birth and rise of the anti-Chinese Sarekat Islam movements in Java. It also reveals that this inequality was most severe in a number of residencies of Java, where the movements first took hold. While there is statistical evidence of a link between interracial wage differentials and anti-Chinese violence, there is no link between absolute wages and violence. This evidence suggests that “relative deprivation” is important in understanding ethnic tension. 相似文献
In India, competition scenario in the general insurance sector changed since the year 2000–2001 with the entry of several private sector players in the respective market. While a few studies attempted to benchmark the performance of Industry players using early data available from the market regulator, the existing research studies have a number of weaknesses. Against this backdrop, the present paper seeks to evaluate the performance of 15 general insurance companies for the period 2009–2010 to 2013–2014 using a two stage approach. In the first stage, the study uses the dynamic DEA model suggested by Tone and Tsutsui (Omega, 38(3–4):145–156, 2010) to evaluate the in-sample companies in terms of slacks based measure of technical efficiency. In the second stage, the efficiency scores have been explained by solvency performance of the insurers in terms of a panel data censored regression model with robust residuals. The results indicate a very strong association between efficiency and solvency.
Over the past three decades, we have seen a dramatic increase in the incidence of temporary trade barriers such as antidumping duties and countervailing duties. China has been at the receiving end of a large number of such measures. In this paper, we study how China's exports to its major trade partners have been affected when its major trade partners have used these measures either against China or against other countries. We find that Chinese exports to the country that imposed an antidumping duty decreased by approximately 35 percent. At the same time, an antidumping duty used by the importing country that was directed towards other countries but not against China led to an approximate 30‐percent increase in China's exports to the policy‐imposing country. These results remain robust across various specifications. Our findings have important policy implications. In particular, the magnitude of these effects highlights why it is important to curb the recent widespread use of these barriers. 相似文献
What is the relationship between smallholder participation in modern food supply chains and their degree of economic specialization? We investigate this research question by looking at whether there is a systematic relationship between whether a household grows crops for a supermarket chain—participation in the supermarket channel—and how concentrated among fewer crops are that household's total landholdings and its output. Using longitudinal data from India, we find that there is no relationship between whether a household participates in the supermarket channel and that household's Herfindahl–Hirschman index for land, but there is a robust statistically significant and negative relationship between whether a household participates in the supermarket channel and that household's Herfindahl–Hirschman index for output. These findings hold true at both the extensive margin (i.e., when considering whether a household participates in the supermarket channel) and the intensive margin (i.e., when considering how much of a household's marketed output is sold through the supermarket chain). This suggests that instead of fostering a greater degree of specialization, participation in modern food supply chains might lead to greater diversification. 相似文献
This paper investigates the rationale for the measurement of a firm's periodic performance through the accounting classification of its cash outflows into operating cash flow and investment. We show that when the accounting system does not attempt to measure periodic performance and reports only aggregate cash flow, equilibrium capital market prices are such that there is a perverse informational cost to investment over and above the real cost of investment. This induces distortions in the firms' equilibrium investment. We show that other sources of information, consisting of forecasts of future returns to investment play a vital counterbalancing role when the accounting system is inadequate in this way. An accounting signal that provides noisy information on periodic performance decreases the informational cost to investment and moves the economy closer to first best.The first author wishes to acknowledge financial support from McKnight Foundation and the Accounting Research Center, University of Minnesota. An earlier version of the paper was titled Capitalization vs. Expensing: Effects on Investment. 相似文献
Endogenous growth theory is now fashionable. It seeks to explainwhy per capita income growth in capital abundant countries isoften faster than in capital poor countries and defies the operationof diminishing returns. This theory, which took off with Romerand Lucas, often makes Allyn Young's concept of increasing returnsand Marshall's distinction between internal and external economiesits starting point but considers their treatment of the subjectas not sufficiently rigorous. The modern endogenous growth theoriststhen claim to explain what they had in mind with greater clarity,rigour and depth. This paper argues that this is not the caseas these theorists actually misrepresent Young in importantways. 相似文献
We examined a sample of 120 Norwegian, founding family controlled and non‐founding family controlled firms, to address two important research questions: (1) is founding family control associated with higher firm value; and (2) are there unique corporate governance conditions under which a founding family controlled firm can be more valuable? We find a positive association between founding family control and firm value for four alternative definitions of founding family control. We find that the association between founding family CEOs and firm value is stronger among younger firms, firms with smaller boards, and firms with a single class of shares. However, the impact of founding family directors on firm value is not affected by corporate governance conditions such as firm age, board independence, and number of share classes. We also find that the relation between founding family ownership and firm value is greater among older firms, firms with larger boards, and particularly when these firms have multiple classes of shares. Our results imply that founding family controlled firms are more valuable and governed differently than firms without such influence. Furthermore, our results also suggest that founding family CEOs can enhance firm performance when family influence does not create shareholder entrenchment or when their cash flow rights are more aligned with their control rights. 相似文献