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101.
This paper provides a case study of the 2001/02 famine in Malawi from a village in the Southern Region of the country. Based on in‐depth micro‐level field research, it challenges some commonly accepted views about this crisis. The paper provides evidence that: (1) there was a serious ‘famine’ in the community; (2) the decline in food availability was not the major causal factor of the famine; (3) the early warning system in the rural areas was functioning appropriately and the famine did not happen in ‘silence’, unnoticed; (4) the food preferences of Malawians are not ‘inflexible’; and (5) the famine, contrary to the claims of some of the ‘new famine hypotheses’, was less the consequence of underlying vulnerability and long‐term social or economic trends but, rather, the result of an unexpected and sudden shock, which was generated by the exponential increase in the price of all food crops.  相似文献   
102.
This article studies the stochastic properties of several inflation rates for the Spanish economy using the consumer price index (CPI) for the 17 regions and 12 groups of goods and services, and the producer price index (PPI) for 26 industrial sectors. To this end, we employ the panel analysis of nonstationarity in idiosyncratic and common components (PANIC) approach proposed by Bai and Ng (2004, 2010). This methodology enables us to decompose the observed inflation rate series into a common and an idiosyncratic component, thus allowing us to identify the exact source of nonstationarity. Our analysis provides strong evidence of the presence of a common stochastic trend driving the observed series forming the panel of CPI-based inflation rates for the regions. This, coupled with the presence of a jointly stationary idiosyncratic component, implies the existence of pairwise cointegration across the regional CPI-based inflation rates, which show a clear pattern of convergence over time. This gives an indication of increased geographical homogeneity in consumption patterns. The evidence for the panels of CPI-based inflation of groups of goods and services and PPI-based inflation of industrial sectors indicates the existence of four independent common stochastic trends. This, combined with jointly stationary idiosyncratic series, provides much weaker evidence of cross-cointegration for these two panels.  相似文献   
103.
This article aims to understand the determinants influencing the number of association meetings held in countries worldwide and which may be controlled by their economic agents and policymakers. For this purpose, we use a dynamic panel model with data provided by the Data World Bank, the World Travel & Tourism Council, and the International Congress and Convention Association, in a time series of 8 years. The results reveal the importance of the experiences obtained by the tourists in previous meetings, as well as the countries’ need to implement measures to stimulate the dynamism of economic activity and political stability.  相似文献   
104.
This paper studies whether lending by foreign banks is affected by financial crises. We pair a bank‐level data set of foreign ownership with information on banking crises and examine whether the credit supply of majority foreign‐owned banks that underwent home‐country crises differ systematically from those of other foreign banks. In contrast to the literature, our broad global coverage allows us to exploit variations between foreign banks; this enables us to identify an average treatment effect directly attributable to crises. Our baseline results show that banks exposed to home‐country crises between 2007–08 exhibit changes in lending patterns that are lower by between 13% and 42% than their noncrisis counterparts. This finding is robust to potential alternative explanations, and also holds, though less strongly, for the 1997/98 Asian crisis.  相似文献   
105.
106.
We analyze a problem à la Rogoff where incumbents can distort fiscal policy to signal their competency, but where fiscal policy can be centralized or decentralized. Our main focus is on how the equilibrium probability that fiscal policy is distorted in any region (the political budget cycle, PBC) differs across fiscal regimes. With centralization, there are generally two effects that change the probability of a PBC. One is the possibility of selective distortion: the incumbent can be reelected with the support of just a majority of regions. The other is a cost diversification effect, which is present unless costs are perfectly correlated across regions. Both these effects work in the same direction, with the general result that the PBC probability is lower under centralization when decentralization also involves PBC. Welfare analysis shows that voters tend to be better off when the PBC probability is lower, so voters prefer centralization when decentralization involves PBC. Our results are robust to a number of changes in the specification of the model.  相似文献   
107.
This paper provides evidence on the effect of recessions and expansions on the productivity growth rate of productivity leaders and followers. We use data of a representative sample of the Spanish manufacturing sector for the period 1991 and 2005. These data allow us to estimate firm level productivity for a relatively long period of time and provide us with firm level perception of the business cycle. We find that productivity tends to converge in recessions because, in these periods, the productivity growth of followers is higher than the productivity growth of leaders. This fact is consistent with theoretical models of managerial incentives and competition. A recession can be seen as an exogenous increase in competition that reduces demand and poses a threat of liquidation. This threat is higher for followers and is high enough to create asymmetric incentives to become more productive. We test the robustness of our results to sample selection and different productivity measure.  相似文献   
108.
This paper sets out to highlight the importance of entrepreneurial and market orientations for the success of enterprises operating out of a rural base. Using these two strategic frameworks, this paper identifies the marketing practices undertaken by rural enterprises, and evaluates their effect on business performance, on the local entrepreneur, and on the rural area itself. Enterprises operating from a rural location play a strategic role in the sustainable development of economies, in the context of which the rural tourism sector particularly stands out. The use of marketing practices appropriate to the aims, capacities and resources of such enterprises is proposed as a mechanism for improving their performance. Using the Spanish rural tourism sector as the basis, a scale measuring marketing practices, and another scale reflecting three different types of outcome – financial, those linked personally to the entrepreneur, and those in terms of development of the rural environment – are proposed and validated, and the effect of marketing practices on the performance of such enterprises is analysed. The findings, which reveal that marketing practices have a significant effect on the achievement of outcomes, have implications of interest for the literature and for practitioners in the rural enterprise sector.  相似文献   
109.
Past research has provided evidence of the role of some personal characteristics (age, gender, religion) as risk factors for depression. However, few researchers have jointly examined the specific impact of each characteristic and whether country characteristics (economic performance and others environmental factors) change the probability of being depressed. In general, this is due to the use of single‐country databases. The aim of this article is to extend previous findings by employing a much larger dataset and including the above‐mentioned country effects. We estimate probit models with country effects (model I) and we also explore linkages between specific environmental factors and depression (model II includes variables such as per capita Gross Domestic Product and the GINI index). The dataset for this research comes from the 2007 GALLUP Public Opinion Poll that allows us to consider a large and widely heterogeneous set of micro‐data. Findings indicate that depression is positively related to being a woman, adulthood, divorce, widowhood, unemployment, and low income. Moreover, we provide evidence of the significant association between economic performance and depression. Inequality raises the probability of being depressed, specially for those living in urban areas. Finally, we find that some population characteristics such as age distribution and religious affiliation facilitate depression.  相似文献   
110.
The Border Effect and the Nonlinear Relationship between Trade and Distance   总被引:1,自引:0,他引:1  
The border‐effect literature confirms that sub‐national units tend to trade more with the rest of their country than with foreign markets. However, it is likely that ongoing processes of trade integration will generate a trade‐off between internal and external integration for sub‐national units within countries. In this paper we estimate the internal and external border effect, using a novel dataset that captures intra‐ and international shipments between Spanish regions and regions in eight European countries with alternative treatments of the nonlinear relationship between distance and trade.  相似文献   
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