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3121. Technology Clubs, Technology Gaps and Growth Trajectories

Author:
Fulvio Castellacci
Publication Date:
04-2008
Content Type:
Working Paper
Institution:
Norwegian Institute of International Affairs
Abstract:
This paper looks at the convergence clubs literature from a Schumpeterian perspective, and it follows the idea that cross-country differences in the ability to innovate and to imitate foreign technologies determine the existence of clustering, polarization and convergence clubs. The study investigates the characteristics of different technology clubs and the growth trajectories that they have followed over time. The cross-country empirical analysis first explores the existence of multiple regimes in the data by means of cluster analysis techniques. It then estimates a technology-gap growth equation in a dynamic panel model specification. The empirical results identify three distinct technology clubs, and show that these are characterized by remarkably different technological characteristics and growth behavior.
Topic:
Development, Economics, International Trade and Finance, and Science and Technology

3122. Fairness Considerations in World Politics: Lessons from International Trade Negotiations

Author:
Ethan B. Kapstein
Publication Date:
06-2008
Content Type:
Journal Article
Journal:
Political Science Quarterly
Institution:
Academy of Political Science
Abstract:
Ethan B. Kapstein argues that in recent years a growing number of activists, scholars, and policymakers have claimed that the global economy and, specifically, the current international trade regime have been ''unfair'' to the developing countries. He concludes that, while the trading system can hardly be considered a level playing field for each and every state, fairness considerations do appear to play a role in shaping trade agreements.
Topic:
Economics

3123. U.S.-Latin America Relations: A New Direction for a New Reality

Publication Date:
05-2008
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
This Task Force report takes stock of the current situation in Latin America and the main challenges and opportunities for U.S.-Latin America relations. Latin America has benefited greatly in recent years from democratic opening, stable economic policies, and increasing growth. Many countries are taking advantage of these developments to consolidate democratic institutions, broaden economic opportunities, and better serve their citizens. Yet Latin American nations face daunting challenges as they integrate into global markets and work to strengthen historically weak state institutions. These challenges increasingly matter for the United States, as deepening economic and social ties link U.S. well-being to the region's stability and development.
Topic:
Foreign Policy, Diplomacy, Economics, and Poverty
Political Geography:
United States, South America, Latin America, and Caribbean

3124. Financial Repression in China

Author:
Nicholas R. Lardy
Publication Date:
09-2008
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
China\'s banking sector has been largely transformed over the past decade. Several of the largest banks have been restructured, recapitalized, and listed. Governance has improved, notably through the appointment of independent members to boards of directors. A vigorous new regulatory and supervisory agency, the China Banking Regulatory Commission (CBRC), has introduced new accounting standards, a revised risk weighting system for measuring capital, more rigorous loan loss criteria, heightened provisioning requirements, and other significant changes. Foreign banks have entered the market, both through their own branches and subsidiaries and through strategic investments in domestic banks, bringing better banking practices and much needed additional competition.
Topic:
Economics and Government
Political Geography:
China and Asia

3125. The Political Economy of Successful Reform: Asian Stratagems

Author:
Dennis Arroyo
Publication Date:
06-2008
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
Major economic reforms are often politically difficult, causing pain to voters and provoking unrest. They may be opposed by politicians with short time horizons. They may collide with the established ideology and an entrenched ruling party. They may be resisted by bureaucrats and by vested interests. Obstacles to major economic reform can be daunting in democratic and autocratic polities alike.
Topic:
Economics, Government, and Political Economy
Political Geography:
China, India, Asia, South Korea, Vietnam, Singapore, and Thailand

3126. Executive Pay: Regulation vs. Market Competition

Author:
Ira T. Kay and Steven Van Putten
Publication Date:
09-2008
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
The economic slowdown and the active political season are generating calls for imposing new regulations on executive pay. The presidential candidates of the two major parties have lashed out at what they perceive to be excessive pay for certain executives or for corporate executives in general.
Topic:
Economics, Government, and Markets

3127. Markets vs. Monopolies in Education: A Global Review of the Evidence

Author:
Andrew J. Coulson
Publication Date:
09-2008
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
Would large-scale, free-market reforms improve educational outcomes for American children? That question cannot be answered by looking at domestic evidence alone. Though innumerable “school choice” programs have been implemented around the United States, none has created a truly free and competitive education marketplace. Existing programs are too small, too restriction laden, or both. To understand how genuine market forces affect school performance, we must cast a wider net, surveying education systems from all over the globe. The present paper undertakes such a review, assessing the results of 25 years of international research comparing market and government provision of education, and explaining why these international experiences are relevant to the United States.
Topic:
Economics, Education, Government, and Markets
Political Geography:
United States

3128. Giving Green to Get Green: Incentives and Consumer Adoption of Hybrid Vehicle Technology

Author:
Kelly Sims Gallagher and Erich Muehlegger
Publication Date:
02-2008
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Federal, state and local governments use a variety of incentives to induce consumer adoption of hybrid-electric vehicles. We study the relative efficacy of state sales tax waivers, income tax credits and non-tax incentives and find that the type of tax incentive offered is as important as the value of the tax incentive. Conditional on value, we find that sales tax waivers are associated a seven-fold greater increase in hybrid sales than income tax credits. In addition, we estimate the extent to which consumer adoption of hybrid-electric vehicles (HEV) in the United States from 2000-2006 can be attributed to government incentives, changing gasoline prices, or consumer preferences for environmental quality or energy security. After controlling for model specific state and time trends, we find that rising gasoline prices are associated with higher hybrid sales, although the effect operates entirely through sales of the hybrid models with the highest fuel economy. In total, we find that tax incentives, rising gasoline prices and social preferences are associated with 6, 27 and 36 percent of high economy hybrid sales from 2000-2006.
Topic:
Economics, Energy Policy, and Government
Political Geography:
United States

3129. Economic Analysis of the Nurse Shortage in Egypt

Author:
Marwa Farag
Publication Date:
04-2008
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
The health sector in Egypt suffers from a severe shortage of qualified nurses (nurses with at least 2 years of post high school nursing education) and a much less apparent perceived/real shortage of all-type nurses. This paper examines the nurse labor market in Egypt for evidence of such shortages and explores potential reasons behind them. The paper adopts a case-study approach to provide an overall understanding of the demand for and supply of nurses in Egypt; it employs both qualitative and quantitative techniques. Focus groups and in-depth interviews were conducted with 19 nurses in addition to secondary analysis of data from World Health Organization- East Mediterranean Region, High Council for University Students in Egypt and Ministry of Health and Population. I find that the main reason for the shortage of the stock of qualified nurses is–to a large extent- the restricted supply of nursing education, which is provided entirely by the public sector today. The overall perceived/real shortage of all-type nurses on the other hand does not seem to be related to a shortage of the stock of all nurses but rather nurse supply decisions at the current nurse wage levels and nurse working conditions in Egypt. The Ministry of Health and Population current approach is to upgrade the quality of nursing education in Egypt to eliminate high school level nursing education in the future; this seems to be the right approach. However, as a result of lack of quantitative labor market data, it is not possible to predict the likely effect of such policy on the shortage. Since a more educated nurse is more employable in the private sector and abroad, this might very well mean that more nurses will exit the public sector leading to more severe shortages in the public sector and therefore such policy should be accompanied by nurse retention strategies tailored to the nature of the supply nurses. Lack of data makes it difficult to generate the evidence necessary to guide such policies. Investing in data infrastructures is essential to support evidence based health policy in Egypt. Finally, with Egypt high unemployment rate (particularly for female unemployment), it is possible to view the availability of foreign markets for Egyptian nurses as an opportunity instead of a threat if the right policies aimed at protecting the local market for nurses and public investments in nurse education are adopted.
Topic:
Economics, Education, and Health
Political Geography:
Egypt

3130. Labor Regulations and European Industrial Specialization: Evidence from Private Equity Investments

Author:
Ant Bozkaya and William R. Kerr
Publication Date:
05-2008
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
European nations empirically substitute between employment protection regulations and labor market expenditures like unemployment insurance benefits in the provision of labor market insurance to workers. While perhaps substitutes from a worker's perspective, employment regulations more directly tax .firms making frequent labor force adjustments. These labor adjustments are especially important for the portfolio companies of both venture capital and buy-out investors. European nations providing worker insurance through labor market expenditures developed stronger domestic private equity markets over the 1990-2004 period than those nations favoring employment protection. These patterns are further evident in US-sourced private equity investments into Europe. Moreover, tests for industry specialization suggest that countries with more flexible labor markets tend to specialize in sectors characterized by high labor volatility. These results are relevant to the literatures examining the impact of labor market regulations on entrepreneurship and productivity growth due to reallocations across .firms and sectors.
Topic:
Economics, Industrial Policy, and Markets
Political Geography:
United States and Europe