Explaining Export Duration in Kenya

This study establishes the hazard rate of exports from Kenya and identifies factors that explain the duration of exports using a discrete-time random effects logit regression model. A difference-in-differences estimator is used to assess the effects of AGOA. Export data between Kenya and 176 partners over 21 years (1995–2016) is used. We find that first-year survival rate is 39%. The median duration of Kenya’s exports is 1 year. AGOA enhances export survival, especially for apparels. COMESA also increases export survival but EAC has a dampening effect, even in SSA region. Differentiated products unlike capital-intensive products improve export survival.     

A note regarding the problem of perfect multicollinearity

In this paper, the problem of multicollinearity is considered and a way to overcome such singular cases is analysed. The method proposed is based upon some useful properties of the generalized inverse.     

Singular value decomposition in cointegration analysis: a note regarding the difference stationary series

Many methods and techniques have been developed gradually to compute cointegration vectors. We present here a comparatively simple method for computing the matrix of cointegrating vectors, by applying singular value decomposition. With this method, one can easily accommodate in the cointegrating vectors any deterministic factors, such as a dummy, apart from the constant term and the trend. Besides the errors corresponding to the finally selected cointegrating vector have the property of minimum variance. It is noted that this procedure is not mentioned in the relevant literature. Additionally, a sequential technique is introduced, for determining the order of integration for a given series. With this procedure one can directly detect whether the differencing process produces a stationary series or not, since it seems to be a common belief that differencing a variable (one or more times) we will always get a stationary series [Harris, R.: Using Cointegration Analysis in Econometric Modelling. Prentice Hall, London (1995)]. It will be seen that this is not necessarily the case.     

Greek Marketing Strategies in the European Tourism Market

Between 1960 and 1985 international tourism to Greece enjoyed one of the fastest rates of growth in the world, averaging 12.2 per cent annually. Numerous inter-related explanations were offered for this phenomenon, including endowed factors such as warm climate and antiquities; low costs; the supportive infrastructure and the strength and efficiency of the supply of tourist services and products. One aspect, however, which has not attracted much attention is the quality of Greek marketing. The Greek tourism marketing strategies are examined using a sample of Greek national tourist offices located in major European cities. Data for the study were gathered from personal interviews with the directors of such tourist offices. Although the marketing strategies undertaken by the national tourist offices of Greece abroad have been generally successful, the long-term viability of such strategies can only be sustained by a formalised strategic marketing planning process which caters for a host of interacting internal and external variables.     

Who is Looking for Nutritional Food Labels?: Wer sucht nach Nährwertangaben auf Lebensmitteln?: Mais qui donc s'occupe du contenu nutritionnel sur les étiquettes?

Who is Looking for Nutritional Food Labels? Obesity amongst the population in Europe is increasing at an alarming rate. Consequently, nutritional and lifestyle factors are implicated in the huge increase in several chronic diseases in Europe. The Southern Europeans tend to be amongst the worst, mth Greece being first in adult obesity mainly due to the replacement of the Mediterranean diet with ready‐made and fast foods. People want to see change towards an environment that makes it easier to make healthy choices. The EU, in order to assist consumers make healthy food choices, tried to make nutritional information available to consumers through a food labelling law framework, which currently works on a voluntary basis with the perspective to change towards a mandatory system. We conducted a study in Greece in order to assess consumer use of nutritional food labels and determine which consumers use certain types of nutrient content information. We found that almost a third of consumers often use food labels and these are the more educated, who are more nutritionally knowledgeable. Many others do not, and to increase their chances of reading the labels one should improve their knowledge of nutrition havlng in mind that they are not big users of the media but get their information from informd sources. Mais qui donc s'occupe du contenu nutritionnel sur les etiquettes? La prevalence de I'obesitk augmente a un t a u toujours plus preoccupant en Europe. Les facteurs nutritionnels et les styles de vie sont par consequent impliquks dans l'Cnorme accroissement constati: de diverses pathologies chroniques. La situation est specialement mauvaise en Europe du sud, ou la Grece detient le record du taux d'obesite dans la population adulte, en particulier du fait du remplacement du fameux ‘regime mediterraneen’ par les plats prepares et la restauration rapide. Les gens souhaitent un environnement susceptible de leur faciliter le choix d'une alimentation saine. C'est pour cela que l'Union europkenne a tente de mettre des informations nutritionnelles a la disposition des consommateurs, en instituant un cadre legal pour l'etiquetage alimentaire Il fonctionne actuellement sur la base du volontariat, mais il a pour vocation d'evoluer vers un systeme obligatoire. Il est rendu compte ici d'une enquOte effectuee en Grkce pour determiner quels types de consommateurs utilisent quels genres dindications de contenu nutritionnel portees sur les etiquettes alimentaires, et dans quelle mesure. Environ un tiers des consommateurs utilisent souvent les contenus nutritionnels. Ce sont les plus eduques et les mieux informks. La plupart des autres negligent les etiquettes. Pour accroitre les chances que ces dernieres soient lues, il faudrait donc arneliorer les connaissances nutritionnelles, en gardant a l'esprit que les personnes concernkes utilisent peu les mkdias et tirent leurs informations de sources informelles. Wer sucht nach Nährwertangaben auf Die Fettleibigkeit in der europaischen Bevolkerung nimmt alarmierend schnell zu. Folglich spiegeln sich Ernahrung und Lebensstil in dem hohen Anstieg zahlreicher chronischer Erkrankungen in Europa wider. Fur die Sudeuropaer ergeben sich einige der schlechtesten Werte, wobei in Griechenland die Erwachsenenfettleibigkeit am ausgepriigtesten ist. Dies liegt hauptsachlich daran, dass die mediterrane Erniihrung von Fertiggerichten und Fast‐Food abgelost wurde. Die Bevolkerung wiinscht sich eine Veriinderung hin zu einer Umgebung, die sie darin unterstutzt, der Gesundheit zutr;dgliche Entscheidungen zu treffen. Die EU wollte den Verbrauchern gesundheitlich relevante Informationen durch eine Kennzeichnung der Inhaltsstoffe der Lebensmittel verschaffen. Dieses System sieht gegenwartig lediglich eine freiwillige Kennzeichnung vor, ist aber als obligatorisch geplant. Wir fiihrten in Griechenland eine Studie durch, um zu beurteilen, inwiefern Nahrwertangaben auf Lebensmitteln den Verbrauchern nutzen, und um festzustellen, welche Verbraucher auf bestimmte Nahrwertangaben achten. Wir fanden heraus, dass beinahe ein Drittel aller Verbraucher auf die Lebensmittelkennzeich nung achten. Diese Verbraucher verfiigen uber eine hohere Bildung und kennen sich in Erniihrungsfragen relativ gut aus. Ein großer Anted der Verbraucher verfiigt uber keinerlei gesundheitliche Grundkenntnisse; um diesen Verbrauchern das Lesen der Etiketten zu ermoglichen, sollte man ihre Kenntnisse in Sachen Ernahrung verbessern und sich dabei vor Augen fiihren, dass diese Verbraucher die Medien nicht allzu intensiv nutzen, sondern ihre Informationen aus informellen Quellen beziehen.     

A Consistent Econometric Test for Bid Interdependence in Repeated Second-Price Auctions with Posted Prices

In repeated second-price experimental auctions, the winning bid is normally posted after each round. The posting of these winning prices after each round can result in bids submitted in later rounds to be interdependent with posted prices from earlier rounds. Several approaches in the past have tried to scrutinize their experimental data for value interdependence by regressing bids on lagged market prices or lagged bids and ignoring the inherent endogeneity problem. This paper introduces a formal test for bid interdependence in repeated second-price auctions with posted prices using a dynamic panel model. We then apply this test to formally check the presence of bid interdependence in three datasets used in previous studies.