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151.
Do all countries follow the same growth process? 总被引:1,自引:0,他引:1
We estimate finite-mixture models in which countries are sorted into groups based on the similarity of the conditional distributions
of their growth rates. We observe countries growth experiences over the 1970–2000 period and find evidence for a model in
which there are two classes of countries, each with its own distinct growth regime. Group membership does not conform to the
usual categories used to address parameter heterogeneity such as region or income. We find strong evidence that the quality
of institutions and specifically, the degree of law and order, helps to sort countries into different regimes. Once we control
for institutional features of the economy, we find no evidence that geographic features such as latitude and being landlocked
play a role in determining the country groupings. 相似文献
152.
Dawn R. DeTienne Dean A. Shepherd Julio O. De Castro 《Journal of Business Venturing》2008,23(5):528-546
Under-performing firms persist even though existing theoretical perspectives indicate that they should be selected out of the market. Building upon threshold theory [Gimeno, J., Folta, T., Cooper, A., Woo, C., 1997. Survival of the fittest? Entrepreneurial human capital and the persistence of underperforming firms. Administrative Science Quarterly 42, 750–783.] and using Staw's [Staw, B.M., 1981. The escalation of commitment to a course of action. Academy of Management Review 6 (4), 577–587.] theoretical model of commitment to a course of action, we explore and test the factors that lead entrepreneurs to persist with under-performing firms. We found environmental munificence, personal investment, personal options, previous organizational success, and perceived collective efficacy impact the decision to persist with an under-performing firm. In addition, extrinsic motivation moderates those relationships. This research adds to the growing literature on highly persistent, under-performing firms and complements and extends threshold theory. 相似文献
153.
Andrés Gómez-Lobo Julio Peña-Torres Patricio Barría 《Environmental and Resource Economics》2011,48(4):651-678
In 2001 an individual (operationally transferable) quota system was introduced for all the most important industrial fisheries
in Chile. This system was put in place after years of declining stocks and over investment. In this paper we describe this
reform and estimate related allocative efficiency benefits for the most important industrial fishery in the country, the southern
pelagic fishery. Benefits were estimated using a bioeconomic model estimated using data for the 1985–2004 period. The estimated
model was then used to generate simulated scenarios of the evolution of this fishery in a 20 year horizon with and without
the ITQ system in place. The benefits of the reform can then be estimated by comparing the fishery’s costs in the scenarios
with and without ITQs. This approach allows benefits to be estimated using more realistic counterfactual scenarios than just
comparing the fishery before and after the reform. Estimated discounted net benefits reach US $166 million in the period 2001–2020.
Fleet size fell from 149 active boats in 2000 to 57 in 2004 as a direct consequence of the reform. Among the interesting features
of the Chilean experience is the way the political economy of the reform was facilitated by the prior introduction of de facto
individual quotas within the framework of fishery experimental activities. When the authorities closed the southern pelagic
fishery because of biological problems between 1997 and 2000, they organized ‘experimental’ fishing expeditions in which participant
boats were given the right to fish a certain amount of resources per expedition. This pseudo quota system allowed fishermen
to experience directly the benefits of individual quotas and that was instrumental to the political agreement leading to the
reform. It is important to note that the Chilean southern industrial pelagic fishery has average catches of over 1.4 million
tons a year, making it one of the largest fisheries in the world to be regulated by individual quotas. 相似文献
154.
Julio Aramberri 《Futures》2009,41(6):367-376
Present-day generalizations on the future of tourism see it as a key force in the process of globalization. This paper challenges this notion by pointing out that our knowledge of the real shape of world travel and tourism is still quite limited and that the sketchy evidence we can gather with present-day tools thus presents a much more modest picture confronting the claim that tourism has reached a high level of globalization. While it is an activity practiced all over the world, it is scarcely global. In this sense, the perception that tourism is wholeheartedly global and that it mainly connects the richer parts of the world with the poorest pleasure peripheries is but a figment of the post-romantic collective imagination that dominates much tourism research. 相似文献
155.
G. Julio López 《World development》1983,11(5):455-465
The paper begins by sketching the build up to the recent crisis of the Mexican economy. Then it examines the strategic alternatives which are open in the future. The author points out that the present situation is ‘fluid’ and that two extremely different strategic options are shaping up: one which could be called nationalist and with a populist orientation; and the other which would prefer simply to reformulate the previous model of growth. Finally, the short-term economic perspectives are analysed and some factors will be considered which may well be included in an economic strategy of a nationalist and populist orientation. 相似文献
156.
Julio 《Annals of Tourism Research》2003,30(4):964-966
157.
Factors affecting the cost to the farmer of employing soil erosion reduction strategics are examined for the steep hillsides near Tegucigalpa, Honduras. Linear programming and MOTAD are used to examine these factors. Results indicate that some modest reductions in erosion can be achieved at little cost to the farmer by reorganizing production, switching rotations, and using contour plowing. These modest reductions still lead to extremely high rates of erosion. Sharper reductions may be achieved at progressively higher costs as erosion control structures are constructed and acreage is left fallow. There is a high cost to the farmer of reducing erosion to ‘sustainable’ levels. A consistent tradeoff emerges between levels of soil conservation, income, and risk; erosion reduction efforts lead to lower incomes and higher risk. The analysis of likely benefits to farmers for erosion reduction shows that even under assumptions of very high yield losses from soil erosion, optimal farm plans still lead to high rates of soil loss, implying a need for policies that internalize externalities if off-farm damages are to be minimized. 相似文献
158.
This paper analyses the determinants of ownership structure by focusing on the role played by investment, financing and dividend decisions. The use of the Generalised Method of Moments allows us to provide new evidence on this important corporate governance topic, since it controls for the endogeneity problem. Our most relevant findings show that: i) increases in debt lead insiders to limit the risk they bear by reducing their holdings; ii) monitoring by large outside owners substitutes for the disciplinary role of debt; and iii) both inside and outside owners are encouraged to increase their stakes in the firm in view of higher dividends. Our results hold after controlling for equity issues and share repurchases. 相似文献
159.
Julio J. Rotemberg 《Journal of Monetary Economics》2005,52(4):829-852
While firms claim to be concerned with consumer reactions to price increases, these often do not cause large reductions in purchases. The model developed here fits this by letting consumers react negatively only when they become convinced that prices are unfair. This can explain price rigidity, though its implications are not identical to those of existing models of costly price adjustment. In particular, the frequency of price adjustment can depend on economy-wide variables observed by consumers. This has implications for the effects of monetary policy and can explain why inflation does not fall immediately after a monetary tightening. 相似文献
160.
Miguel Brozos-Vázquez Marco Antonio Campo-Cabana José Carlos Díaz-Ramos Julio González-Díaz 《Journal of Mathematical Economics》2008
In this paper we bring a novel approach to the theory of tournament rankings. We combine two different theories that are widely used to establish rankings of populations after a given tournament. First, we use the statistical approach of paired comparison analysis to define the performance of a player in a natural way. Then, we determine a ranking (and rating) of the players in the given tournament. Finally, we show, among other properties, that the new ranking method is the unique one satisfying a natural consistency requirement. 相似文献