WorldWideScience

Sample records for capital expenditures

  1. Corruption, Public Expenditure, and Human Capital Accumulation

    OpenAIRE

    Spyridon Boikos

    2013-01-01

    In this paper we investigate the effect of corruption on human capital accumulation through two channels. The first channel is through the effect of corruption on the public expenditure on education and the second channel is through the effect of corruption on the physical capital investment. Public expenditure on education affects positively human capital, while physical capital can obsolete human capital. Initially, we construct an endogenous two-sector growth model with human capital accum...

  2. EFFECT OF FISCAL DECENTRALIZATION ON CAPITAL EXPENDITURE, GROWTH, AND WELFARE

    OpenAIRE

    Rudy Badrudin

    2013-01-01

    This research analyzes the influence of fiscal decentralization on capital expenditure, economic growth, and social welfare of 29 regencies and 6 cities in Central Java Province based on the data of year 2004 to 2008. The method used to analyze the hypotheses is the Partial Least Square. The results showes that fiscal decentralization has no significant effect on capital expenditure; fiscal decentralization has significant effect on economic growth and social welfare; capital expenditure has ...

  3. EFFECT OF FISCAL DECENTRALIZATION ON CAPITAL EXPENDITURE, GROWTH, AND WELFARE

    Directory of Open Access Journals (Sweden)

    Rudy Badrudin

    2013-04-01

    Full Text Available This research analyzes the influence of fiscal decentralization on capital expenditure, economic growth, and social welfare of 29 regencies and 6 cities in Central Java Province based on the data of year 2004 to 2008. The method used to analyze the hypotheses is the Partial Least Square. The results showes that fiscal decentralization has no significant effect on capital expenditure; fiscal decentralization has significant effect on economic growth and social welfare; capital expenditure has no significant effect on economic growth and social welfare; and economic growth has significant effect on social welfare.Keywords: Fiscal decentralization, capital expenditure, economic growth, social welfareJEL classification: H76, I31, 043

  4. Composition of Government Expenditure, Human Capital Accumulation, and Welfare

    OpenAIRE

    John Matovu

    2000-01-01

    This paper uses a dynamic general equilibrium model calibrated to Ugandan data to examine the welfare effects of alternative scenarios of government expenditure and tax financing. Two expenditure types are considered: social spending that affects human capital, and infrastructure expenditures that affect productivity. The paper finds that social expenditures lead to higher economic growth depending on the form of financing; young generations benefit most from social spending financed by consu...

  5. FLYPAPER EFFECTS ANOMALY OF WEST PAPUA CAPITAL PUBLIC EXPENDITURE

    Directory of Open Access Journals (Sweden)

    Marthen Anthon Pentury

    2013-04-01

    Full Text Available In fiscal decentralization, local governments should be able to provide public service facilities for all communities. This study aims to determine the existence of flypaper effect in the total capital public expenditure and capital expenditure on education, health and infrastructure in districts in West Papua, 2003-2006. Tools of analysis used is panel data regression. The General Allocation Fund (DAU, the Special Allocation Fund (DAK and the Special Autonomy Fund (DOK partially and simultaneously have positive impact on total capital spending and capital expenditure in education, health, and infrastructure. It is also indicated the anomaly of flypaper effect in DAU, DAK, and DOK.Keywords: Flypaper effect, anomaly, fiscal decentralization, capital expendituresJEL classification numbers: H50, H75

  6. Public and private expenditures on human capital accumulation in India

    OpenAIRE

    Ghate, Chetan; Glomm, Gerhard; Stone, John T.

    2015-01-01

    We study a model of human capital driven growth, where the parent's human capital serves as a productive input in the child's human capital production only when that of the former exceeds a minimum level required to intellectually contribute to the child's learning. Private and public expenditures on education enter in the child's human capital production function, and are allowed to vary in terms of substitutability and relative productivity. Households receive income from labor and face bot...

  7. Forecasting Business Investment Using the Capital Expenditure Survey

    OpenAIRE

    Natasha Cassidy; Emma Doherty; Troy Gill

    2012-01-01

    Business investment is a key driver of economic growth and is currently around record highs in Australia as a share of GDP. In compiling forecasts for business investment, the Reserve Bank uses a variety of different indicators, including information from liaison as well as survey measures of firms’ investment intentions. The most comprehensive survey is the Australian Bureau of Statistics’ (ABS) quarterly survey of Private New Capital Expenditure and Expected Expenditure (Capex survey). Whil...

  8. Business R&D expenditure and capital in Europe

    OpenAIRE

    Helmers, Christian; Schulte, Christian; Strauss, Hubert

    2009-01-01

    This study presents new estimates of business R&D capital stocks for 22 countries at the aggregate and industry levels. At 9 percent of GDP, the EU business R&D capital stock falls short of its US and Japanese counterparts. Within the EU, R&D capital stocks are much lower in the southern and the new member states, reflecting large and persistent disparities in R&D expenditure. There was hardly any convergence over the past decade. The R&D capital stock is concentrated on three technologyinten...

  9. Does Government Public Capital Expenditure Matter?: Evidence for Canada

    OpenAIRE

    Dadgostar, Bahram; Mirabelli, Frank

    1998-01-01

    Does the provision of Canadian government capital expenditures and government deficits displace private economic activity? In the U.S., Erenburg (1993) found that private sector investment spending is enhanced by expected increases in public spending on infrastructure, while also showing that deficit spending has no significant effect on private investment. There is no empirical study to date that addresses the relationship between government capital investment and government debt on private ...

  10. The Relationship Between Cash Flow And Capital Expenditure: Evidence From German Automobile Sector

    OpenAIRE

    Saffarizadeh, Navid

    2014-01-01

    ABSTRACT: The present study investigates the long run equilibrium relationship between cash flow and capital expenditure in German automobile sector as one of the leaders of the automobile industry in the world. Johansen co-integration test confirmed the relationship between cash flow and capital expenditure in the long run. Cash flow has significant and inelastic impact on capital expenditure (-0.963). Error correction model reveals that capital expenditure in German automobile sector conver...

  11. HUMAN CAPITAL INVESTMENT EXPENDITURE OF WOMEN IN FEMALE-HEADED HOUSEHOLD IN PENINSULAR MALAYSIA

    OpenAIRE

    Noorin Yuvarani Michael; Thamarai M.Munisamy; Sharifah Azizah Haron; Benjamin Chan Yin-Fah

    2010-01-01

    This study aims to investigate the human capital expenditure, the expenditure share of human capital investment expenditure and the probability of having human capital investment among the women in female-headed households. The data was obtained from a nationwide study on "Economic wellbeing and human capital investment of female-headed household" funded by the Ministry of Science, Technology and Innovation (MOSTI), government of Malaysia, under the e-Science Grant.  Four states (Kedah, Pahan...

  12. Regional analysis of public capital expenditure: to which regions is public capital expenditure channelled - to "rich" or to "poor" ones?

    OpenAIRE

    Blažek, Jiří; Macešková, Marie

    2010-01-01

    Abstract The paper aims to contribute to the debate on the regional dimension of sectoral (i.e. non-regional) policies and to empirically demonstrate the huge discrepancy between both the volume and the regional pattern of sectoral public capital expenditure policies on the one hand, and official regional policy on the other. The analyses were based on a unique database of public investment in the Czech Republic covering the years 1995?2005. Their results show significant conflicts...

  13. Moldova Public Expenditure Review : Capital Expenditures - Making Public Investment Work for Competitiveness and Inclusive Growth in Moldova

    OpenAIRE

    World Bank

    2013-01-01

    This public expenditure review (PER) for Moldova is the result of a body of programmatic fiscal work. This PER focuses on capital expenditure. It supports the first pillar of the country partnership strategy (improving economic competitiveness) and complements the 2012 development policy operation. In the context of economic recovery and stabilization, government requested World Bank assis...

  14. Revisiting Indicators of Public Debt Sustainability: Capital Expenditure, Growth and Public Debt in India

    OpenAIRE

    Bhatt, Antra

    2010-01-01

    The paper tests whether productive expenditures share a long run re- lationship with debt to GDP ratio by using a multivariate time series framework. The theoretical model is based on dynamic optimization of utility and productive expenditure with respect to capital and debt. Literature on growth theory has suggested that all less productive expenditures can have a negative effect on the growth rate of real GDP per capita until the optimal level of productive expenditure is reached. This woul...

  15. Improved estimates of capital formation in the National Health Expenditure Accounts.

    Science.gov (United States)

    Sensenig, Arthur L; Donahoe, Gerald F

    2006-01-01

    The National Health Expenditure Accounts (NHEA) were revised with the release of the 2004 estimates. The largest revision was the incorporation of a more comprehensive measure of investment in medical sector capital. The revision raised total health expenditures' share of gross domestic product (GDP) from 15.4 to 15.8 percent in 2003. The improved measure encompasses investment in moveable equipment and software, as well as expenditures for the construction of structures used by the medical sector. PMID:17290665

  16. Public Capital Expenditure and Debt Dynamics: Evidence from the European Union

    OpenAIRE

    Bhatt Hakhu, Antra; Piergallini, Alessandro; Scaramozzino, Pasquale

    2014-01-01

    This paper investigates the relationship between public capital expenditure and public debt in the European Union (EU), relying on a panel of fifteen countries over the sample period 1980-2013. We find robust evidence of a negative cointegrating relation, according to which increases in the capital expenditure-GDP ratio cause reductions in the debt-GDP ratio in the long run. Our empirical results suggest that current EU fiscal austerity can trigger upward debt spirals if cuts in total expendi...

  17. Tax Financed Government Health Expenditure and Growth with Capital Deepening Externality

    OpenAIRE

    Kei Hosoya

    2003-01-01

    This paper develops a two-sector endogenous growth model with health capital and examines the impact tax financed health expenditure has on long-run growth. In this model, health capital is accumulated through government spending as a flow channel and a capital deepening externality as a stock channel. When arguing about the problem of growth maximizing flat tax, the latter channel plays a significant role for determining tax rate.

  18. Government Expenditure on Human Capital Development: Implications for Economic Growth in Nigeria

    OpenAIRE

    Stephen O. Oluwatobi; Ogunrinola, Oluranti I.

    2011-01-01

    This study examines the relationship between human capital development efforts of the Government and economic growth in Nigeria. It seeks to find out the impact of government recurrent and capital expenditures on education and health in Nigeria and their effect on economic growth. The data used for the study are from secondary sources while the augmented Solow model was also adopted. The dependent variable in the model is the level of real output while the explanatory variables are government...

  19. The Impact of Capital Expenditure on the Probability of Reelection of Mayors at the District Level in Peru

    OpenAIRE

    GUZMAN, Jorge Luis

    2016-01-01

    Abstract. Until recently, elected authorities in Peru were allowed to run for re-election. The objective of this study is to test whether voters reward (or punish) elected authorities according to expenditure performance. In particular, I measure the probability of a mayor being reelected subject to their capital expenditure throughout the four-year term. I study the two most recent electoral terms: 2006-2010 and 2010-2014. To deal with the endogeneity of capital expenditure, the model contro...

  20. DETERMINANTS OF HEALTHCARE EXPENDITURE ON HUMAN CAPITAL AND ECONOMIC GROWTH IN BANGLADESH: A LONGITUDINAL DATA ANALYSIS FROM 1995-2010

    OpenAIRE

    SHONGKOUR ROY

    2014-01-01

    The objective of this study was to examine the determinants of healthcare expenditure in Bangladesh between 1995 and 2010 byapplying the World development indicator data. First, I developed an empirical model for longitudinal data analysis to determinant thehealthcare expenditure under the human capital and economic growth. Next, I explored the dynamic relationships among healthcareexpenditure, human capital and economic growth usingOLSmodel. The expenditure in private healthcare was 2.3% and...

  1. The Impact of Public Education Expenditure on Human Capital, Growth, and Poverty in Tanzania and Zambia: A General Equilibrium Approach

    OpenAIRE

    Erik Thorbecke; Hong-Sang Jung

    2001-01-01

    The impact of public education expenditure on human capital, the supply of different labor skills, and its macroeconomic and distributional consequences is appraised within a multisector CGE model. The model is applied to and calibrated for two Heavily Indebted Poor Countries (HIPCs), Tanzania and Zambia. The simulation results suggest that education expenditure can raise economic growth. However, to maximize benefits from education expenditure, a sufficiently high level of physical investmen...

  2. DETERMINANTS OF HEALTHCARE EXPENDITURE ON HUMAN CAPITAL AND ECONOMIC GROWTH IN BANGLADESH: A LONGITUDINAL DATA ANALYSIS FROM 1995-2010

    Directory of Open Access Journals (Sweden)

    SHONGKOUR ROY

    2014-05-01

    Full Text Available The objective of this study was to examine the determinants of healthcare expenditure in Bangladesh between 1995 and 2010 byapplying the World development indicator data. First, I developed an empirical model for longitudinal data analysis to determinant thehealthcare expenditure under the human capital and economic growth. Next, I explored the dynamic relationships among healthcareexpenditure, human capital and economic growth usingOLSmodel. The expenditure in private healthcare was 2.3% and 1.2% GDPfor the public health in 2010. A Wald statistic determined the joint significance of the data andR2= 99.42%for human capital andR2=99.44% for economic growth indicates thismodel was the best fit. The empirical results concerned that healthcare expenditure GDPper capita plays an important role in economic growth and an income elasticity about 0.34 that implies healthcares are not luxury goodin the Bangladesh.

  3. On the Principle of Distinguishing Capital Expenditures from Revenue Expenditures%划分资本性支出与收益性支出原则及其应用

    Institute of Scientific and Technical Information of China (English)

    李友香

    2001-01-01

    划分收益性支出与资本性支出原则是会计要素计量与确认应遵循的基本原则,对于实现收入与费用的合理配比,确定资产的价值,正确计算企业当期的经营成果具有十分重要的意义。在会计实务中,两类支出混淆不清的情况还普遍存在。本文对划分两类支出原则及其应用作了一些探讨。%Expenditures that provide future benefits are referred to as capital expenditures. Expenditures that don't result in a significant increase in future service potential are referred to as revenue expenditures because they are matched against current period revenues to determine net income. Capital expenditures benefit future periods, while revenue expenditures benefit only the current period. Correct distinguishing between capital expenditures and revenue expenditures is of great importance for matching revenue against expenditures, for determining assets value and operating results. This paper discusses the principle of distinguishing capital expenditures from revenue expenditures and its application in accounting practice.

  4. Impacts of remittances on child human capital investment, educational expenditure, and living conditions of households: evidence from Turkey

    OpenAIRE

    Duman, Erkan

    2012-01-01

    This paper examines the impacts of international remittances on child human capital investment, educational expenditure, and living conditions of households. Remittances can increase family income and reduce resource constraint problems, allowing more consumption and investment. On the other hand, migration which is the main driving force behind remittances may have a disrupting effect on family structure and may result in adverse outcomes. After controlling for household wealth- the main obs...

  5. Adjustment lending, conditionality and public capital expenditure in sub- saharan Africa: an overview.

    OpenAIRE

    Wetzel DL

    1993-01-01

    Explores the effects of adjustment lending and donor conditionality on public investment. Compares public expenditure in countries that have undertaken strong reform programmes with countries that have either undertaken weak reform programmes or no programme at all.

  6. Cycle for fuel elements. Uranium production, programs for nuclear power stations and capital expenditure involved

    International Nuclear Information System (INIS)

    A number of different possible programs for nuclear power stations of various types are presented in this survey. These programs are established in relation to the use of uranium and thorium in amounts similar to those that shall probably be produced in France during the next fifteen years. As it is possible to draw plans for nuclear power stations in which several processes exist simultaneously, an unlimited number of variations being thinkable, this survey is limited to successive analysis of the results obtained by use of only one of each of the following three systems: - system natural uranium-graphite, - system natural uranium-heavy water, -system enriched uranium-pressurised light water. All schemes are considered as assemblages of these three simple systems. The effects of plutonium recycling are also considered for each system. The electric power installed and the capacity of stations situated up-stream and down-stream have been calculated by this method and an attempt has been made to establish the sum to be invested during the fifteen years necessary for the launching of the programs scheduled. A table of timing for the investments groups the results obtained. Considering the fact that French availabilities in capital shall not be unlimited during the coming years, this way of presenting the results seems to be interesting. (author)

  7. Capital expenditure and depletion

    International Nuclear Information System (INIS)

    In the future, the increase in oil demand will be covered for the most part by non conventional oils, but conventional sources will continue to represent a preponderant share of the world oil supply. Their depletion represents a complex challenge involving technological, economic and political factors. At the same time, there is reason for concern about the decrease in exploration budgets at the major oil companies. (author)

  8. CEO权力、独立董事和资本支出决策%CEO Power,Independent Director and Capital Expenditure Decisions

    Institute of Scientific and Technical Information of China (English)

    徐静

    2012-01-01

    The validity of corporate governance should be reflected not only in improving corporate value,more importantly,should be reflected in decreasing all kinds of agency costs.The paper empirically tests the relations between CEO power,independent director and capital expenditure decisions using the data of real-estates' listed companies from 2007 to 2009.The research results show:(1)CEO power is more strength,CEO will be inclined to increase capital expenditure,especially when CEO is board chairman;(2) The higher of the ratio of the independent director owning financing background,the less of capital expenditure;(3) The effect of restricting capital expenditure by independent director owning financing background is stronger in state-owned corporate than in non-state owned corporate.%公司治理机制的效率不仅体现在公司价值的提升上,更应该体现在各类代理成本比如不必要资本支出的削减上。选取2007~2009年97家房地产上市公司为样本,以企业资本支出水平为切入点,分析独立董事和CEO权力对资本支出决策的影响。研究发现:(1)高管层权力越大,越倾向于加大资本支出,任职时间长和两职合一的高管层更是如此;(2)财务专家型独立董事比例的提高能够有效抑制高管层滥用权力增加的资本支出;(3)通过对不同股权性质企业分析,国有企业中财务专家型独立董事对抑制资本支出水平的有效性显著强于非国有企业。

  9. Capital

    OpenAIRE

    Coulangeon, Philippe

    2013-01-01

    Empruntée à l’appareil conceptuel de l’économie, la notion de capital désigne en première analyse l’ensemble des ressources dont disposent les individus et les groupes et qui affectent leurs trajectoires, notamment dans les domaines scolaire, professionnel, matrimonial et familial. La sociologie contemporaine se saisit le plus souvent du concept pour en souligner les différentes espèces : capital économique, capital culturel et capital social, principalement. Si le capital économique désigne ...

  10. Estimation of consumption-capital asset pricing model (C-CAPM) with two clusters of consumption expenditures

    OpenAIRE

    Atsushi Maki; Kenji Wada

    2011-01-01

    In this paper, we develop a new model that explicitly considers two endogenous consumption items and investigates its applicability to consumption-capital asset pricing model (C-CAPM) by testing it with various sets of instruments. We found that our model is not rejected with reasonable values for both risk aversion and time preference parameters.

  11. Causal Relationship among Education Expenditure, Health Expenditure and GDP: A Case Study for Bangladesh

    OpenAIRE

    Md. Mostafizur Rahman

    2011-01-01

    This paper investigated the causal relationship among health expenditure, education expenditure and GDP for Bangladesh. First we present the extension form of the augmented Solow Growth model by including education expenditure and health expenditure as education and health capital. In our empirical study we used time series data for the period 1990 to 2009. From the ECM methodology we found that an including of health and education expenditure as an investment in health and education capital ...

  12. Fifty years of Research on Accuracy of Capital Expenditure Project Estimates: A Review of the Findings and their Validity.

    OpenAIRE

    Stefan Linder

    2005-01-01

    Capital budgeting research has traditionally focused on ever improving the methods used for evaluating projects. Since it seems futile to use sophisticated evaluation techniques if their input data – that is, estimates of cash inflows and outflows – are of inferior quality, it is justifiable to call this focus into question by exploring forecasting accuracy. In order to do so, the article analyzes the empirical findings on estimation error gathered in 35 studies published between 1954 and 200...

  13. Oil sands tax expenditures

    International Nuclear Information System (INIS)

    The oil sands are a strategic Canadian resource for which federal and provincial governments provide financial incentives to develop and exploit. This report describes the Oil Sands Tax Expenditure Model (OSTEM) developed to estimate the size of the federal income tax expenditure attributed to the oil sands industry. Tax expenditures are tax concessions which are used as alternatives to direct government spending for achieving government policy objectives. The OSTEM was developed within the business Income Tax Division of Canada's Department of Finance. Data inputs for the model were obtained from oil sands developers and Natural Resources Canada. OSTEM calculates annual revenues, royalties and federal taxes at project levels using project-level projections of capital investment, operating expenses and production. OSTEM calculates tax expenditures by comparing taxes paid under different tax regimes. The model also estimates the foregone revenue as a percentage of capital investment. Total tax expenditures associated with investment in the oil sands are projected to total $820 million for the period from 1986 to 2030, representing 4.6 per cent of the total investment. 10 refs., 2 tabs., 7 figs

  14. Empirical Analysis on the Relationship of Total Health Expenditure, Physical Capital Investment and Economic Growth%卫生总费用、物质资本投入与经济增长关系实证分析

    Institute of Scientific and Technical Information of China (English)

    聂丽

    2013-01-01

    目的:分析我国国内生产总值、卫生总费用、物质资本投入3个变量间关系,为我国卫生经济政策制定及分配制度改革提供依据。方法:采用1978-2011年统计年鉴数据,建立VAR模型研究变量间动态关系。结果:通过单位根检验得出模型较稳定,3个变量间有Granger关系,通过脉冲响应函数得出: GDP增加会引起卫生费用和物质资本投入增加,物质资本与卫生费用变化具有反向关系等。结论:卫生总费用与物质资本相比具有更强经济增长效应,政府应合理分配卫生费用,从提高劳动者素质角度提高物质资本的社会效益从而促进经济增长。%Objective: By analyzing the three variables relationship of GDP, total health expenditure and physical capital input, to provide basis for health economic policy and distribution system reform in China. Methods: Using the data from 1978 to 2011, the VAR model of the dynamic relationship is established. Results: The establishment of VAR model is stable by unit root test, there is Granger relation between the 3 variables, the result of the impulse response function is obtained that GDP will increase the input of health costs and physical capital, and physical capital and health expenditure have a reverse relation. Conclusion: Total health expenditure has greater effect on economic growth compared with physical capital, the government should allocate health costs, improve social benefits from the prospective of improving the quality of workers to promote economic growth.

  15. Household expenditure components and the poverty and inequality relationship in Malawi

    OpenAIRE

    Mussa, Richard

    2011-01-01

    The paper looks at how inequality in household expenditure components affects total inequality and poverty in Malawi. Total household expenditure is disaggregated into four mutually exclusive and exhaustive expenditure items namely; expenditure on food, expenditure on health, expenditure on education, and expenditure on non food and non human capital items. Using data from the second integrated household survey (IHS2), we find that the elasticities of poverty with respect to within-component ...

  16. Measuring Irish capital

    OpenAIRE

    Keeney, Mary J.

    2007-01-01

    Irish National Income and Expenditure Accounts do not contain information on capital stocks or capital services estimation. Estimates of the national capital stock and the depreciation of its fixed assets are basic macroeconomic aggregates and are integral components for many modelling exercises. This paper will present a detailed asset-level analysis of the stocks and depreciation of Irish fixed assets and the capital formation flows used to derive them. It will apply an improved perpetual i...

  17. Tax expenditure considerations for owner-occupied housing

    OpenAIRE

    Audrey Pulo

    2010-01-01

    This article examines the government tax expenditures related to owner-occupied housing, particularly as they compare to non-owner-occupied housing, and discusses the issues involved in modelling and analysing these expenditures. The approach used considers various aspects of owner-occupied housing, including capital gains, imputed rent, interest deductions, capital works deductions and miscellaneous deductions.

  18. Public Capital, Private Capital and Economic Growth

    OpenAIRE

    Alberto Bucci

    2012-01-01

    A growth model is presented in which productive government expenditure takes the form of a stock. Private and public capital interact with each other in two ways. The first is related to the specification of the aggregate production function (Cobb-Douglas vs. CES). The second has to do with the rates of investment in the two types of capital, and arises from the law of motion of public capital. The share of public capital devoted to output production can be exogenous or endogenous. In this fr...

  19. Social Capital and Regional Social Infrastructure Investment

    OpenAIRE

    Matthew Roskruge; Arthur Grimes; Philip McCann; Jacques Poot

    2012-01-01

    In this article, we link unique data on local social infrastructure expenditure with microlevel individual survey data of self-reported social capital measures of trust and participation in community activities. We use both probit and tobit models to estimate the impact of social infrastructure expenditure on social capital formation. Our results imply that the links between social capital, demographic characteristics, human capital, geography, and public social infrastructure investment are ...

  20. Optimal Capital Taxation in A Neoclassical Growth Model

    OpenAIRE

    Chia-Hui Lu; Been-Lon Chen

    2013-01-01

    This paper studies the optimal factor tax incidence in a neoclassical growth model with a given share of government expenditure in output. In the Ramsey planner’s optimization, the effect of next period’s capital on government expenditure equals the given share of the marginal product of capital. Capital accumulation reduces the discounted net marginal product of next period’s capital by way of increasing government expenditure. In order to internalize the distortion, it is optimal to tax cap...

  1. Expenditure Cascades

    OpenAIRE

    2014-01-01

    Prevailing economic models of consumer behavior completely ignore the well-documented link between context and evaluation. We propose and test a theory that explicitly incorporates this link. Changes in one group's spending shift the frame of reference that defines consumption standards for others just below them on the income scale, giving rise to expenditure cascades. Our model, a descendant of James Duesenberry's relative income hypothesis, predicts the observed ways in which individual sa...

  2. Social Capital and Economic Well-being

    OpenAIRE

    Munshi Sulaiman; Farhad Ameen

    2007-01-01

    The proposition that social capital expands household welfare is tested by estimating the effects of social interactions on per capita expenditure among a sample of 810 households in northern Bangladesh. Using data from BRAC’s 2004 Social Capital Survey, ordinary least square (OLS) estimates isolate the differential effects of physical assets, human capital, and social capital [CFPR WP 16].

  3. Aid, public expenditure, and Dutch disease.

    OpenAIRE

    Christopher S. Adam; Bevan, David L.

    2003-01-01

    Contemporary policy debates on the macroeconomics of aid often concentrate on short-run Dutch disease effects, ignoring the possible supply side impact of aid— financed public expenditure. We develop a simple model of aid and public expenditure in which public infrastructure capital generates an inter-temporal productivity spillover for both tradable and non-tradable sectors, where these productivity effects may display sector-specific biases. The model also allows for non-homo...

  4. Capital Controls and the Real Exchange Rate

    OpenAIRE

    Sweder van Wijnbergen

    1989-01-01

    Using an intertemporal, two-country general equilibrium model, I demonstrate that international asymmetries in expenditure patterns determine the real exchange rate effects of capital controls. Capital import taxes lower world interest rates, but raise home interest rates. These changes in interest rates bring about a change in the composition of world expenditure, with a shift of home expenditure from the present ('today') to the future ('tomorrow'), and a shift of foreign aggregate expendit...

  5. Irish Public Capital Spending in a Recession

    OpenAIRE

    Morgenroth, Edgar

    2009-01-01

    In the past the first expenditure to be cut during an economic downturn was capital expenditure. However, the cuts in capital expenditure of the late 1980's and 90's had left Ireland with an infrastructure deficit. This note highlights a number of important issues, which should be considered before decisions to spend tax payer's money to support the construction sector are taken. Overall the paper concludes that in the context of a relatively high cost per job created via public investment, p...

  6. National Health Expenditure Data

    Data.gov (United States)

    U.S. Department of Health & Human Services — National Health Expenditure Accounts are comprised of the following, National Health Expenditures - Historical and Projected, Age Estimates, State Health...

  7. Solow Residuals Without Capital Stocks

    DEFF Research Database (Denmark)

    Burda, Michael C.; Severgnini, Battista

    2014-01-01

    investment expenditures: one eliminates the capital stock by direct substitution, while the other employs generalized differences of detrended data and the Malmquist index. In short samples, these measures can exhibit consistently lower root mean squared errors than the Solow–Törnqvist counterpart. Capital...

  8. PUBLIC EXPENDITURE COMPOSITION AND GROWTH: A NEO-KALECKIAN ANALYSIS

    OpenAIRE

    Pasquale Commendatore; Antonio Pinto

    2011-01-01

    In this paper, we put forward a neo-Kaleckian model of growth and dsitribution. We introduce two different types of public expenditure: government consumption expenditure and public provision of capital; and we study the effects on equilibrium capacity utilisation and growth. Two different cases are explored: a) the government size is allowed to vary; b) the government size is fixed and only the composition of public expenditure changes. Our results depart from those drawn by the New Growth T...

  9. Illegal Immigration: Optimal Enforcement and Capital Mobility

    OpenAIRE

    Subhayu Bandyopadhyay

    2005-01-01

    This paper analyzes the effectiveness of enforcement in controlling illegal immigration in two scenarios, capital mobility and capital immobility in the host nation (for illegal immigrants). The source nation is assumed throughout to have immobility of capital. We show that the net enforcement expenditure is higher (lower) in the presence of capital mobility if the host nation is an importer (exporter) of capital at the target immigration level. Furthermore, we show that if the host nation is...

  10. The expenditure for the protection of the environment in 2012

    International Nuclear Information System (INIS)

    Illustrated by several graphs, this publication comments the evolution of public expenditure for the protection of the environment, compares the current expenditure and the capital expenditure. It comments the share of waste management and wastewater sanitation with respect to the global expenditure (it represents 62 pc of it) and the evolutions of the expenditures for each domain of the environment (protection of the environment and ecosystems, waste management and struggle against noise pollution, research and development, public actions for regulation and administration). It comments the increase of prices of sanitation services and the decrease of consumed volumes of water, the increase of R and D expenditure, the influence of the legal context on the increase of industry investments for air protection. The expenditures for the protection of the environment in the European countries are indicated and compared

  11. On the Budget Deficits and Capital Expenditure

    OpenAIRE

    Malcolm Sawyer

    1998-01-01

    It has almost become the conventional wisdom that there should be rules governing the size of the budget deficits, without regard for the impact of such deficits on the macro economy. This is reflected in the push for a balanced budget in the United States and the 3 percent deficit to GDP ratio convergence criteria in the Maastricht Treaty (and designed for observance by countries signing up for the single currency). The purpose of this paper is not to present further arguments against defici...

  12. The incidence of public expenditure for defense and security on Colombian economic growth 1970-2003

    OpenAIRE

    Alexander Cotte Poveda; Maria Fernanda Mera González

    2005-01-01

    The aim of this work was to analyze the major effects of public military forces expenditure on Colombia economic growth during 1970-2003 span period. Time series methodology was used for economic data, allowing for determining the several different coefficients and final contribution to capital product, employment, defense expenditure (DE), security expenditure (SE) and public forces expenditure (PFE). It was found empirical evidence documenting that there is no positive and systematic relati...

  13. Classification of enterprise expenditures

    Directory of Open Access Journals (Sweden)

    Tatiana Ostapenko

    2013-05-01

    Full Text Available The need to diversify share of costs is grounded. It is proposed to classify expenditures by types of income (loss of current activity (covered and uncovered expenditures, by the level of costs to its planned size (planned cost; costs that exceed the planned size; costs that are lower than the planned size, with the aim to influence the activity result (effective and ineffective expenditures, by the period of their appearance (intermediate and annual expenditures.The existing classification of expenditures by kinds of activity is improved through emphasizing such feature: by ability to increase enterprise cost (essential and unessential expenditures. The traditional definition of exhausted (consumed and unexhausted (not consumed expenditures that helped to separate expenses in their structure which don’t ensure formation of exhausted and unexhausted expenditures (management costs is criticized

  14. Russia - Public Expenditure Review

    OpenAIRE

    World Bank

    2011-01-01

    The primary objective of the Public Expenditure Review (PER) is to assist the Ministry of Finance (MOF) in identifying opportunities for efficiency gains in some key categories of government expenditure. In this context, policy makers face two related fiscal dilemmas. First, how can expenditure efficiency are increased to provide public services with fewer resources? Second, how can the fi...

  15. Incentives of Health Care Expenditure

    Directory of Open Access Journals (Sweden)

    Eero Siljander

    2012-12-01

    Full Text Available The incentives of health care expenditure (HCE have been a topic of discussion in the USA (Obama reforms and in Europe (adjustment to debt crisis. There are competing views of institutional versus GDP (unit income elasticity and productivity related factors of growth of expenditure. However ageing of populations, technology change and economic incentives related to institutions are also key drivers of growth according to the OECD and EU’s AWG committee. Simulation models have been developed to forecast the growth of social expenditure (including HCEs to 2050. In this article we take a historical perspective to look at the institutional structures and their relationship to HCE growth. When controlling for age structure, price developments, doctor density and in-patient and public shares of expenditures, we find that fee-for-service in primary care, is according to the results, in at least 20 percent more costly than capitation or salary remuneration. Capitation and salary (or wage remuneration are at same cost levels in primary care. However we did not find the cost lowering effect for gatekeeping which could have been expected based on previous literature. Global budgeting 30 (partly DRG based percent less costly in specialized care than other reimbursement schemes like open contracting or volume based reimbursement. However the public integration of purchaser and provider cost seems to result to about 20 higher than public reimbursement or public contracting. Increasing the number of doctors or public financing share results in increased HCEs. Therefore expanding public reimbursement share of health services seems to lead to higher HCE. On the contrary, the in-patient share reduced expenditures. Compared to the previous literature, the finding on institutional dummies is in line with similar modeling papers. However the results for public expansion of services is a contrary one to previous works on the subject. The median lag length of

  16. A national accounts satellite for human capital and education

    OpenAIRE

    Bos, Frits

    2011-01-01

    The official national accounts statistics do not show the role of human capital in the national economy. A set of satellite tables supplementing the standard national accounts statistics could serve this data need. In this satellite account, expenditure on education and training are recorded as human capital formation. This includes not only the expenditure on primary, secondary and tertiary education, but also expenditure on training and courses by employers and the earnings f...

  17. Outside Entrepreneurial Capital

    OpenAIRE

    Andy Cosh; Douglas Cumming; Alan Hughes

    2005-01-01

    This paper investigates the internal versus external financing decisions among 1900 early stage privately held UK firms in 1996-1997. We study the factors that affect rejection rates in applications for outside finance among the different types of investors, taking into account the non-randomness in a firm’s decision to seek outside finance. The data support the traditional pecking order theory; firms with greater capital expenditures / profits are more likely to seek finance and apply for mo...

  18. Purchasing Power Parities and Real Expenditures

    OpenAIRE

    Asian Development Bank

    2014-01-01

    This report presents the results of purchasing power parities (PPPs) in the 2011 International Comparison Program in Asia and the Pacific and background information on the concepts that underpin the results. The PPPs are disaggregated by major economic aggregates that enable robust cross-country comparisons. It includes variables such as per capita real gross domestic product, real per capita actual final consumption expenditure for measures of economic well-being, gross fixed capital formati...

  19. Catastrophic Medical Expenditure Risk

    OpenAIRE

    O'Donnell, Owen; Flores, Gabriela

    2012-01-01

    textabstractMedical expenditure risk can pose a major threat to living standards. We derive decomposable measures of catastrophic medical expenditure risk from reference-dependent utility with loss aversion. We propose a quantile regression based method of estimating risk exposure from cross-section data containing information on the means of financing health payments. We estimate medical expenditure risk in seven Asian countries and find it is highest in Laos and China, and is lowest in Mala...

  20. Colombia : Public Expenditure Review

    OpenAIRE

    World Bank

    2005-01-01

    The thrust of the argument in this report is that, from the fiscal policy perspective, Colombia's long term economic performance will best benefit from: lower public sector debt levels; a lower size of public expenditure; a simpler and (almost) neutral tax structure; a closer linkage between revenue and expenditure responsibilities at different government levels; stronger demand incentives and private sector participation in connection with social expenditures and the related public services...

  1. Government Revenue and Expenditure in Nigeria: A Disaggregated Analysis

    OpenAIRE

    Damian C. NWOSU; Harrison O. OKAFOR

    2014-01-01

    This paper examined the relationship between both total (TEXP) and disaggregated government expenditure (current (TREXP) and capital expenditures (TCEXP)), and total (TREV) and disaggregated revenue (oil (OILREV) and non-oil revenues (NOREV)) in Nigeria using time series data from 1970 to 2011. The study utilized co-integration techniques and VAR models which included an Error Correction Mechanism (ECM) as the methods of analyses. The Co-integration tests indicate the existence of long run eq...

  2. State Spending on Higher Education Capital Outlays

    Science.gov (United States)

    Delaney, Jennifer A.; Doyle, William R.

    2014-01-01

    This paper explores the role that state spending on higher education capital outlays plays in state budgets by considering the functional form of the relationship between state spending on higher education capital outlays and four types of state expenditures. Three possible functional forms are tested: a linear model, a quadratic model, and the…

  3. From capital to capital

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

    HOW easy it is for one who lives in Beijing, capital of the country, to have the impression that all things significant happen there! This is to forget how there are now many provincial capitals in China, that are rapidly modernizing. In order to achieve such modernization, these cities, like

  4. Geographic Distribution of VA Expenditures Report (GDX)

    Data.gov (United States)

    Department of Veterans Affairs — Geographic Distribution of VA Expenditures Report (GDX) located on the Expenditures page in the Expenditure Tables category. This report details VA expenditures at...

  5. National Accounting with Natural and Other Types of Capital

    International Nuclear Information System (INIS)

    We do double-entry national accounting and incorporate zero profit arbitrage conditions (Euler equations) for different types of capital, including natural capital. In non-balanced growth, capital gains terms for capital goods appear in the income side of the accounts. Depreciation terms appear on the product or expenditure side. We consider renewable natural capital as well as non-renewable of both durable and non-durable types. 14 refs

  6. Romanian Public Expenditures Policy during the Economic Crisis

    Directory of Open Access Journals (Sweden)

    Anca-Ştefania SAVA

    2011-03-01

    Full Text Available The aim of this paper is to discuss the Romanian public expenditures policy promoted in the context of the economic and financial crisis. Firstly, we present a brief introduction on the effects of public expenditures policy to economic growth and the role of automatic stabilizers in times of economic recessions. Secondly, the paper analyzes the evolution of current and capital public expenditures before and during the economic and financial crisis, according to which unproductive spending prevailed, in detriment of productive investments which can stimulate the economic recovery.

  7. Catastrophic Medical Expenditure Risk

    NARCIS (Netherlands)

    G. Flores (Gabriela); O.A. O'Donnell (Owen)

    2012-01-01

    textabstractMedical expenditure risk can pose a major threat to living standards. We derive decomposable measures of catastrophic medical expenditure risk from reference-dependent utility with loss aversion. We propose a quantile regression based method of estimating risk exposure from cross-section

  8. Intellectual Capital.

    Science.gov (United States)

    Snyder, Herbert W.; Pierce, Jennifer Burek

    2002-01-01

    This review focuses on intellectual capital and its relationship to information professionals. Discusses asset recognition; national practices and the acceptance of intellectual capital; definitions of intellectual capital; measuring intellectual capital, including multiple and single variable measures; managing intellectual capital; and knowledge…

  9. Macroeconomic Variables and the Dynamic Effect of Public Expenditure: Long-term Trend Analysis in Nigeria

    Directory of Open Access Journals (Sweden)

    Ajibola Arewa

    2013-12-01

    Full Text Available The paper investigates the long-run relationship between government expenditures and a set of macroeconomic variables (GDP, consumer price index and unemployment using annual data collected from CBN statistical bulletin for a period of 19891 to 2011. It particularly adopts Johansen multivariate co integration for its estimation procedure and discovers that there is long-run relationship between government expenditure and the specified macroeconomic variables. It also discovers that an increase in capital expenditure improves economic bliss, while recurrent expenditure is detrimental to growth. Finally, our findings show that most of the variables do not Granger cause each other, but however, recurrent expenditure Granger causes prices, in the same veil capital expenditure does granger cause unemployment.

  10. Income Taxation, Government Expenditure, and Long-Run Stochastic Growth

    OpenAIRE

    Clemens, Christiane

    1999-01-01

    This paper employs a stochastic endogenous growth model with productive government expenditure to analyze the macroeconomic effects of income taxation. We demonstrate that in the presence of capital and income risk the impact of taxation on consumption choice as well as on economic growth is ambiguous as it affects the mean as well as the variance of disposable income. We observe that the effects of taxation crucially depend on the degree of risk aversion and on the capital income share. Neve...

  11. Social capital and regional social infrastructure investment: Evidence from New Zealand

    OpenAIRE

    Arthur Grimes; Matthew Roskruge; Philip McCann; Jacques Poot

    2010-01-01

    In this paper we link unique data on local social infrastructure expenditure with micro-level individual survey data of self-reported social capital measures of trust and participation in community activities. We use both probit and tobit models to estimate the impact of social infrastructure expenditure on social capital formation. Our results imply that the links between social capital, demographic characteristics, human capital, geography and public social infrastructure investment are rat...

  12. Public and Private Cultural Expenditure on the Economic Growth in Iran

    OpenAIRE

    Maysam Musai; Mohsen Mehrara; Rabab Aalami; Shiva Parvaei Haredasht

    2013-01-01

    This paper try to find the effect of public and private cultural expenditure on the economic growth in Iran and determine the most important factor. Statical analysis and econometrics was performed for investigation of public and private cultural expenditure roles on economic growth using Kab-Daglus productional function and calculated according to Statistical Center of Iran and Central Bank of the Islamic Republic of Iran data. The results showed that labours, capital and cultural expenditur...

  13. Health expenditures in Latin America and the Caribbean.

    Science.gov (United States)

    Govindaraj, R; Chellaraj, G; Murray, C J

    1997-01-01

    This paper presents the results of a study commissioned by the Latin American and Caribbean Technical Department of the World Bank to document and analyze health expenditures in Latin America and the Caribbean. In 1990, the countries of this region spent US$ 69 billion on health, with an average per capita health expenditure of US$ 162. On average, the countries spent 6.2% of their GDP on health, with the expenditures divided about equally between the public and private sectors. In both the public and private sectors, per capita health expenditures were positively and significantly correlated with per capita income. However, this relationship holds only for the public sector, when health expenditures are measured as a proportion of GDP. While several poorer countries were dependent on external assistance, with increasing income, the countries relied more on public expenditures to finance health care. Based on the limited time series data, it is evident that there was a considerable variation among countries regarding the proportion spent on capital investments, primary health care, and drugs, but not on salaries. Looking ahead, with increasing economic development, the proportion of GDP spent on health, along with public health expenditure as a proportion of total health expenditure, is likely to increase rapidly, while aid dependency is likely to decline. PMID:9015869

  14. AN ANALYSIS OF IMPACT OF PUBLIC EXPENDITURE ON EDUCATION AND HEALTH IN INDIA

    OpenAIRE

    Joginder and Rakesh

    2015-01-01

    The relationship between economic growth and public spending is an important subject of analysis and debate (Mitchell, 2005). One central question is whether or not government expenditure increases the long run steady state growth of the economy. Some scholars are of the opinion that public expenditure, notably on physical infrastructure & human capital can enhance the economic growth. But particularly Amartya Sen has emphasised that when a country invest more in human capital that is in h...

  15. Erotic Capital

    OpenAIRE

    Jensen, Natalie Madeleine; Jensen, Benjamin; Engstrøm, Emma; Maas, Jannik; Majchrzak, Izabela

    2016-01-01

    This project “Erotic Capital” concerns the topic and theory of Erotic Capital, coined by Catherine Hakim. The idea of Erotic Capital derives from Pierre Bourdieu’s theory of Personal Capitals – in this, Erotic Capital is discussed as an additional Personal Capital. In connection to the investigation of the theory Erotic Capital, certain theories of Feminism, Masculinity, Femininity, Gender and Cultural Differences are explored and examined. This is done in order to study how these theories...

  16. National Health Expenditures - Historical

    Data.gov (United States)

    U.S. Department of Health & Human Services — The National Health Expenditure Accounts (NHEA) are the official estimates of total health care spending in the United States. Historical spending measures annual...

  17. Tax Expenditures in Croatia

    Directory of Open Access Journals (Sweden)

    Vjekoslav Bratić

    2006-06-01

    Full Text Available The tax system of the Republic of Croatia contains a large number of very diverse kinds of tax expenditures whose the declared aim is to achieve certain social and economic objectives. This paper considers all the items that constitute tax expenditures in Croatia, within the systems of the personal income tax, corporate income tax, and real estate transfer tax and value added tax. The objective of the article is to determine the real level of tax expenditures per form of tax in the 2001-2004 period. We hypothesised that the tax expenditures in the analysed forms of tax are both high and growing, which was ultimately borne out, for almost all the analysed items in the tax forms considered are growing.

  18. Budget Constrained Expenditure Multipliers

    OpenAIRE

    Guerra, Ana Isabel; Sancho, Ferrán

    2010-01-01

    We show that standard expenditure multipliers capture economy-wide effects of new government projects only when financing constraints are not binding. In actual policy making, however, new projects usually need financing. Under liquidity constraints, new projects are subject to two opposite effects: an income effect and a set of spending substitution effects. The former is the traditional, unrestricted, multiplier effect; the latter is the result of expenditure reallocation to ...

  19. Welfare Attitudes and Social Expenditure: Do Regimes Shape Public Opinion?

    Science.gov (United States)

    Jakobsen, Tor Georg

    2011-01-01

    This article examines the link between regime types, social expenditure, and welfare attitudes. By employing data on 19 countries taken from the World Values Survey, the main aim is to see to what degree the institutions of a country affect the attitudes of its citizens. According to Esping-Andersen ("The three worlds of welfare capitalism".…

  20. "Steeping" Of Health Expenditure Profiles

    OpenAIRE

    Buchner, Florian; Wasem, Jürgen

    2004-01-01

    If health care expenditure for the elderly grows faster than for younger people, the expenditure profiles become “steeper” – we call that “steeping”. Three instruments for measuring “steeping” are presented: (1) trend of the relation between per capita expenditure of the old and the young; (2) comparing the linear slopes of per capita expenditure in age groups; (3) trend in parameters of nonlinear modelling of expenditure profiles. Using data of the largest German private health insurer over ...

  1. A Case Against Zero Capital-Income Taxation

    OpenAIRE

    Darong Dai; Kunrong Shen; Ruihua Ma

    2013-01-01

    This paper develops a dynamic general equilibrium model to investigate the optimal level of capital income taxation in light of stochastic endogenous economic growth. Although endogenous human capital is incorporated into our model, we restrict our investigation to the issue of optimal physical capital income tax; and the labor supply is also endogenously determined. This paper proves that the optimal capital income tax should be zero provided exogenous government expenditure on production; h...

  2. Pressures to Increase Public Expenditure and Patterns of Procyclical Expenditure

    OpenAIRE

    Andrew Abbott; Philip Jones

    2014-01-01

    This paper draws on the literature that explains why governments spend procyclically, to predict the pattern of cyclical expenditure across government budgets. Procyclical expenditure increases at a faster rate than income in economic upturns and falls at a faster rate in recessions. The more politicians indulge pressures to increase expenditure in an economic upturn, the more they find it difficult to sustain expenditure in a recession. In this paper, differences in politicians' willingness ...

  3. Student Service Expenditures Matter

    Science.gov (United States)

    Ehrenberg, Ronald G.; Webber, Douglas A.

    2010-01-01

    The "Great Recession" has caused a fiscal crisis in both public and private higher education that is unmatched in recent memory. Institutions' attention is focused on what they can cut out of their budgets. Student-service expenditures are often seen as discretionary in institutional budgets; they are viewed by some critics as "frills" that make…

  4. Displaced Capital

    OpenAIRE

    Valerie A. Ramey; SHAPIRO, MATTHEW D

    1998-01-01

    This paper studies the efficiency with which physical capital can be reallocated across sectors. It presents a model of a firm selling specialized capital in a thin resale market. The model predicts that the selling price depends not only on the sectoral specificity of capital, but also on the thinness of the market and the discount factor of the firm. It then provides empirical evidence on the sectoral mobility of capital based on equipment-level data from aerospace industry auctions. These ...

  5. A Review of Capital Budgeting Practices

    OpenAIRE

    Davina F. Jacobs

    2008-01-01

    A key challenge in government budgeting is to define an appropriate balance between current and capital expenditures. Budgeting for government capital investment also remains not well-integrated into the formal budget preparation process in many countries. This paper aims to provide an overview of past and current budgeting practices for public investment. The study will also provide a comparison between the budget practices between low-income countries and developed countries and make a seri...

  6. Capital budgeting

    OpenAIRE

    Dorel BERCEANU; Costel IONAŞCU

    2009-01-01

    This paper has like objective to present some aspects concerning capital budgeting. So, after a short introduction where we specify necessary conditions for a decision situation and we define investment decision and capital budgeting we made a large presentation of stages of capital budgeting process.

  7. The effects of public capital on the productivy of the italian regions

    OpenAIRE

    Marrocu, Emanuela; Paci, Raffaele

    2006-01-01

    This paper investigates on the role played by public capital in increasing the productivity levels in Italy. For the construction of the regional series for the public capital stock over the period 1996-2003, the study benefits from the use of the rich dataset on public expenditure, recently published by the Italian Ministry of Economy. We have estimated panel production functions with the inclusion of traditional factors and also intangible inputs like R&D expenditure, human capital and soci...

  8. THE NEOCLASSICAL MODEL, CORPORATE RETAINED EARNINGS, AND THE REGIONAL FLOWS OF FINANCIAL CAPITAL

    OpenAIRE

    Salvary, Stanley C. W.

    2004-01-01

    Regional capital expenditures, which reflect regional flows of financial capital, are a function of the aggregate of individual firms' behavior. Hence, the allocational efficiency of the regional flows of financial capital may be affected by the manner--internal versus external--in which financial capital becomes available to manufacturing firms. Allocational inefficiency (sub-optimal allocation of financial capital) could obtain since corporate retained earnings - the amount of funds that ar...

  9. Catastrophic medical expenditure risk.

    Science.gov (United States)

    Flores, Gabriela; O'Donnell, Owen

    2016-03-01

    We propose a measure of household exposure to particularly onerous medical expenses. The measure can be decomposed into the probability that medical expenditure exceeds a threshold, the loss due to predictably low consumption of other goods if it does and the further loss arising from the volatility of medical expenses above the threshold. Depending on the choice of threshold, the measure is consistent with a model of reference-dependent utility with loss aversion. Unlike the risk premium, the measure is only sensitive to particularly high expenses, and can identify households that expect to incur such expenses and would benefit from subsidised, but not actuarially fair, insurance. An empirical illustration using data from seven Asian countries demonstrates the importance of taking account of informal insurance and reveals clear differences in catastrophic medical expenditure risk across and within countries. In general, risk is higher among poorer, rural and chronically ill populations. PMID:26812650

  10. Energy expenditure during overfeeding

    OpenAIRE

    Westerterp Klaas R; Joosen Annemiek MCP

    2006-01-01

    Abstract The large inter-individual variation in weight gain during standardized overfeeding together with a weight gain that is often less than theoretically calculated from the energy excess suggest that there are differences between persons in the capacity to regulate energy expenditure and hence metabolic efficiency. Adaptive thermogenesis is defined as the regulated production of heat in response to environmental changes in temperature and diet, resulting in metabolic inefficiency. The q...

  11. Trends in exploration expenditures

    International Nuclear Information System (INIS)

    The American Petroleum Institute and the Department of Energy have contributed to the U.S. petroleum industry estimates of expenditures in exploration. The estimates of expenditures were for scattered years until 1959; from that year forward a continuous record is available. The petroleum industry in the United States is now spending about $10 billion per year in the search for new oil and gas fields. In 1986 dollars, this level is about that of the 1960s, a period of reduced exploratory effort. In the 1960s and 1970s the industry spent about 25% of its revenue in exploration. In the 1980s the percentage spent in exploration has decreased; in the period 1985 to 1988 the percent of revenue spent in exploring for new oil and gas fields was at or about 15% - a significantly lower level from past history. Levels of exploratory overhead, previously at the level of 10% of revenue, have been about 20% in the 1985 to 1988 period. Expenditure levels tell much about the reinvestment rate of the industry and the optimism or pessimism of those who approve funds for the search for new oil and gas fields

  12. Cycle for fuel elements. Uranium production, programs for nuclear power stations and capital expenditure involved; Cycles de combustibles. Production d'uranium, programme de centrales electriques et effort financier correspondant

    Energy Technology Data Exchange (ETDEWEB)

    Andriot, J.; Gaussens, J. [Commissariat a l' Energie Atomique, Saclay (France). Centre d' Etudes Nucleaires

    1958-07-01

    A number of different possible programs for nuclear power stations of various types are presented in this survey. These programs are established in relation to the use of uranium and thorium in amounts similar to those that shall probably be produced in France during the next fifteen years. As it is possible to draw plans for nuclear power stations in which several processes exist simultaneously, an unlimited number of variations being thinkable, this survey is limited to successive analysis of the results obtained by use of only one of each of the following three systems: - system natural uranium-graphite, - system natural uranium-heavy water, -system enriched uranium-pressurised light water. All schemes are considered as assemblages of these three simple systems. The effects of plutonium recycling are also considered for each system. The electric power installed and the capacity of stations situated up-stream and down-stream have been calculated by this method and an attempt has been made to establish the sum to be invested during the fifteen years necessary for the launching of the programs scheduled. A table of timing for the investments groups the results obtained. Considering the fact that French availabilities in capital shall not be unlimited during the coming years, this way of presenting the results seems to be interesting. (author)Fren. [French] L'etude presentee comporte l'examen d'un certain nombre d'hypotheses de programmes de centrales nucleaires de types differents. Ces programmes correspondent a l'utilisation de tonnages d'uranium et de thorium de l'ordre de grandeur de ceux qui seront probablement produits par la France dans les quinze prochaines annees. Comme il est possible de batir un programme de centrales nucleaires, comportant a la fois plusieurs filieres suivant des variantes en nombre infini, on s'est contente d'examiner successivement les resultats ous si on utilisait exclusivement l

  13. Intangible capital: The key to growth in Europe

    OpenAIRE

    Piekkola, Hannu

    2011-01-01

    Intangibles and especially organisational capital are an important source of capital deepening in European countries, albeit with significant cross-country differences. The GDP in the EU27 area is 5.5% higher if certain categories of expenditure, which have until now been considered as current costs, are classified as investments in intangibles. Intangible capital investment markedly improves the profitability of companies, given the productivity-wage gap, and leads to increasing returns in i...

  14. 26 CFR 1.612-2 - Allowable capital additions in case of mines.

    Science.gov (United States)

    2010-04-01

    ...) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Natural Resources § 1.612-2 Allowable capital additions... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Allowable capital additions in case of mines. 1... expenditures for ordinary and necessary maintenance and repairs, shall ordinarily be charged to capital...

  15. Intellectual Capital

    DEFF Research Database (Denmark)

    Mouritsen, Jan; Bukh, Per Nikolaj

    2015-01-01

    Intellectual capital (IC) consists of human capital, organizational capital, and relational capital, and their relationships. It has been said to be important to explain the difference between market value and book value of a firm, but measurement of IC is more likely to be important because it...... forms a starting point for understanding and managing value-creating processes. Three distinct agendas within IC management and research can be identified. The first concerns to measure the components of IC, the second attempts to relate indicators to effects using statistical models, while the third...

  16. Purchasing Power Parities and Real Expenditures: A Summary Report

    OpenAIRE

    Asian Development Bank

    2014-01-01

    This report presents the summary results of purchasing power parities (PPP) in the 2011 International Comparison Program in Asia and the Pacific and background information on the concepts that underpin the results. The PPPs are disaggregated by major economic aggregates which enable robust cross-country comparison as they include variables such as per capita real gross domestic product; real per capita actual final consumption expenditure for measures of economic well-being; gross fixed capit...

  17. R&D EXPENDITURES AND EARNINGS TARGETS: EVIDENCE FROM FRANCE

    OpenAIRE

    Guidara, Rihab; Boujelbene, Younes

    2015-01-01

    Research and development (R&D) investments reduce current-period earnings while the benefits associated with the investments occur in the future. This problem implies an earnings management tool to boost short-term performance. While there is much evidence regarding managerial discretion through R&D capitalization, empirical studies that directly examine managerial discretion through R&D expenditure adjusting have not been widely provided in the European context. This paper seeks ...

  18. Government Expenditures on Education, Fertility Rate, and Child Schooling

    OpenAIRE

    Dessy, Sylvain E.

    1998-01-01

    In many developing countries, a modern sector coexists with a traditional, informal, sector often intensive in child labor. In such a setting, when parents care about both the number and wellbeing of offsping, but also attach an economic value to children, there is a positive association between the total fertility rate and child's time allocated to schooling. As a result, Government expenditures on education fail to enhance optimal growth of human capital.

  19. Advertising Expenditure and Consumer Prices

    OpenAIRE

    Ferdinand Rauch

    2011-01-01

    This paper studies the effect of a change in the marginal costs of advertising on advertising expenditures of firms and consumer prices across industries. It makes use of a unique policy change that caused a decrease of the taxation on advertising expenditures in parts of Austria and a simultaneous increase in other parts. Advertising expenditures move immediately in the opposite direction to the marginal costs of advertising. Simultaneously the price reaction to advertising is negative in so...

  20. Organizational Form and Long-Run Stock and Operating Performance following Corporate R&D Expenditures

    OpenAIRE

    Sheng-Syan Chen; Chin-Te Yu; Xuan-Qi Su; Shu-Miao Lai

    2012-01-01

    Building upon two competing hypotheses, the 'efficient investment' hypothesis and the 'internal capital markets' hypothesis, we set out in this study to examine the role of organizational form, in terms of 'focus' versus 'diversification', in explaining the long-run stock and operating performance following corporate R&D expenditure. In a sample of 165 announcements of increases in R&D expenditure, we find that focused announcing firms experience significantly greater long-run stock and opera...

  1. Remittances, expenditure patterns, and gender: Parametric and semiparametric evidence from Ecuador

    OpenAIRE

    Göbel, Kristin

    2013-01-01

    This study estimates the impact of migrants' remittances on households' spending decisions in Ecuador. Applying both parametric and semiparametric techniques, we find strong evidence that remittances enhance expenditures on education, health, and housing, but decrease expenditures on food. This supports the hypotheses that these inflows result in a stronger human capital accumulation and therefore improve the long-run production possibilities. We do not find strong differences in the impact o...

  2. EXPANDING EFFECTS OF MILITARY EXPENDITURES ON EXTERNAL DEBT IN DEVELOPING COUNTRIES

    OpenAIRE

    Esener, Selcuk Cagri; Ipek, Evren

    2015-01-01

    The aim of this study is to investigate the effects of military expenditures on external debt with other variables like GDP growth, fixed capital formation and openness. The empirical analyses are utilized by using annual panel data for 36 developing countries and by following the methodologies of "Pooled OLS Model" and "Dynamic Panel Estimations”. The sample period covers the years between 1996 and 2013. The estimation results indicate that a change in military expenditure affects external d...

  3. Government Expenditure and the Balance of Payments : Budget Deficit, Financial Integration, and Economic Diplomacy

    OpenAIRE

    Shibuya, Hiroshi

    1996-01-01

    This paper studies the international and intertemporal implications of increased government expenditure. First, it reviews the conventional proposition that increased government expenditure raises interest rates, crowds out investment, and reduces growth. Then, it shows that this proposition does not necessarily hold in an open economy with integrated international capital markets. This creates a possibility of the strategic intertemporal macroeconomic policy, which minimizes the adverse effe...

  4. Cash Limits and the Control of Public Expenditure in the United Kingdom

    OpenAIRE

    D. F. Deadman; F.Mealli; D. J. Pyle

    1998-01-01

    This paper uses a generalisation of intervention analysis to examine quarterly data on UK public expenditure from 1963:1 to 1992:4. The aim is to test whether government policy, and particularly the introduction of cash limits, had any significant effect upon the level of real public expenditure. Four series are examined. These are for (i) central government consumption, (ii) local authority consumption, (iii) general government capital formation and (iv) tranfer payments. No evidence is foun...

  5. Capital gains

    International Nuclear Information System (INIS)

    This article examines African and Middle East oil and natural gas project financing. Capital markets financing, Ras Laffan's project bonds, capital market issues in Saudi Arabia, the movement toward gas and away from oil, and Islamic opportunities are discussed, African and Middle East oil and gas projects are listed. (UK)

  6. Celebration Capitalism

    OpenAIRE

    Boykoff, Jules

    2014-01-01

    Capitalism is a nimble shapeshifter. In this talk Jules Boykoff draws from the history of the Olympic Games to offer a theory of “celebration capitalism,” a form of modern-day economics that complements Naomi Klein’s “disaster capitalism” marked by neoliberalism: privatization, deregulation, and free-market rhetoric.

  7. Estimating expenditure impacts without expenditure data using asset proxies

    OpenAIRE

    Martin Wittenberg

    2009-01-01

    When asset indices are used in regressions the coefficients obtained are typically difficult to interpret. We show how lower bounds on expenditure effects can be extracted, if the relationship between the assets and expenditure can be calibrated on an auxiliary data set.

  8. Public and Private Cultural Expenditure on the Economic Growth in Iran

    Directory of Open Access Journals (Sweden)

    Maysam Musai

    2013-01-01

    Full Text Available This paper try to find the effect of public and private cultural expenditure on the economic growth in Iran and determine the most important factor. Statical analysis and econometrics was performed for investigation of public and private cultural expenditure roles on economic growth using Kab-Daglus productional function and calculated according to Statistical Center of Iran and Central Bank of the Islamic Republic of Iran data. The results showed that labours, capital and cultural expenditure has positive effect on economic develoment, however the production tendency of labours has fist ranking between entities, it means that manpower is the most effective factor on the economic growth. Capital is the second factor and the cultural expenditure is the last effective factor. In fact, the production tendecy of Public and private sectors of culture is less than production tendecy of capital and labours. And the production tendecy of private sector is larger than public one. It means the effect of cultur expenditure of families on economic growth is more than the government cultural expenditure.

  9. The Causal Relationship between Health and Education Expenditures in Malaysia

    Directory of Open Access Journals (Sweden)

    Chor Foon TANG

    2011-08-01

    Full Text Available A major macroeconomic policy in generating economic growth is to encourage investments on human capital such as health and education. This is because both health and education make significant contribution to increasing productivity of the labour force which ultimately exerts a positive effect on raising output levels. A question that arises is whether investments on health and education have a causal relationship and if so, what is the directional causality? The objective of this study is to examine the causal relationship between health and education expenditures in Malaysia. This study covered annual data from 1970 to 2007. Using Granger causality as well as Toda and Yamamoto MWALD causality approaches, this study suggests that education Granger-causes health expenditure in both the short run and long run. The findings of this study implied that the Malaysian society places preference on education expenditure rather than health. This preference is not unexpected as generally, an educated and knowledgeable society precedes a healthy one. Before a society has attained a relatively higher level of education, it is less aware of the importance of health. Thus, expenditure on education should lead expenditure on health.

  10. Environmental expenditure and the natural resources industry in Australia

    International Nuclear Information System (INIS)

    The Australian Federal Government has used taxation policy to encourage environmental responsibility for the past decade. This paper analyzed the development of tax concessions in the natural resources industry for the past 10 years with emphasis on the objective of introducing environmental expenditure incentives. The taxation policy provided the natural resources industry with a special deduction for current or capital expenditure incurred on rehabilitation-related activities on or after 1 July 1999. During this same period, a regime was introduced for the deductibility of environmental expenditure, including environmental impact studies or environmental protection expenditure. Income taxation in Australia has undergone significant review in the past decade to try to simplify the complicated Income Tax Assessment Act which dates back to 1936. Some provisions in that Act were restructured, such as the special tax concessions for the natural resource industry to remove duplication of provisions. This resulted in a single cohesive regime of concessions for the mining, quarrying and petroleum industries. Environmental expenditures were also imported into the restructured 1997 Act. Major business taxation reforms were also introduced at the end of 1999. It was noted that providing financial incentives to operate in a more environmentally responsible matter is not a guarantee that such behaviour will occur. 102 refs

  11. Evidence on the determinants of Canadian provincial government health expenditures: 1965-1991.

    Science.gov (United States)

    Di Matteo, L; Di Matteo, R

    1998-04-01

    Real per capital provincial government expenditures on health care over the period 1965-1991 are examined using pooled time-series cross-section regression analysis: Key determinants of real per capita provincial government expenditures on health care over the period 1965-1991 are real provincial per capita income, the proportion of the provincial population over age 65 and real provincial per capita federal transfer revenues. Established program financing had a negative and significant impact on real per capita provincial government health expenditures in Newfoundland and Quebec. An income elasticity of 0.77 implies that health care is not a luxury good. PMID:10180916

  12. Expenditures for Early Intervention Services

    Science.gov (United States)

    Hebbeler, Kathleen; Levin, Jesse; Perez, Maria; Lam, Irene; Chambers, Jay G.

    2009-01-01

    What does it cost to provide early intervention services? Data collected as part of the National Early Intervention Longitudinal Study were used to determine expenditures for infants, toddlers, and their families receiving services through Part C programs. The study found that the national average total expenditure for early intervention services…

  13. 78 FR 54796 - Research Expenditures

    Science.gov (United States)

    2013-09-06

    ... document proposes regulations to amend the definition of research and experimental expenditures under... definition of research and experimental expenditures contained in Sec. 1.174-2(a)(1) to depreciable property... subsequent event, the proposed regulations provide that the ultimate success, failure, sale, or other use...

  14. Nepal : Public Expenditure Review - Roads

    OpenAIRE

    World Bank

    2011-01-01

    The report, Nepal Public Expenditure Review - Roads, was completed June 2011. The report states that the Government of Nepal has achieved several of the Millennium Development Goals (MDGs), while maintaining macroeconomic stability and prudent fiscal management. Strengthening public expenditure management is an ongoing reform agenda of the government's Three Year Plan, an inclusive devel...

  15. Energy Expenditure of Sport Stacking

    Science.gov (United States)

    Murray, Steven R.; Udermann, Brian E.; Reineke, David M.; Battista, Rebecca A.

    2009-01-01

    Sport stacking is an activity taught in many physical education programs. The activity, although very popular, has been studied minimally, and the energy expenditure for sport stacking is unknown. Therefore, the purposes of this study were to determine the energy expenditure of sport stacking in elementary school children and to compare that value…

  16. CAPITAL STRUCTURE AND VENTURE CAPITAL

    Directory of Open Access Journals (Sweden)

    Becsky-Nagy Patricia

    2015-07-01

    Full Text Available Venture capital significantly changes the capital structure of the portfolio company at the time of the investment. Venture capitalists contribute to the company’s success through their active involvement in the management and their added value appears in the increase of the value of the equity. At the same time with taking active role in the management, agency problem occurs, that complicates the cooperation and the success of exit. In this article we search the answer for the question whether the preferred equity, that are commonly used in the US for bridging the agency problem, are used and able to help Hungarian venture capitalists to manage agency problems. On the other hand we examined how the venture capital affect capital structure, how the venture capitalists value added appear in the capital structure. During the evaluation of the three case studies, we came to the conclusion, that the venture capital investments have positive effect on the liabilities of the enterprises, as the capital structure indexes show. However, the investors need the ownership, which help them to step up resolutely, when things change for the worse, and companies need the expertise, which the investors bring with their personal assistance. The investor’s new attitude also has positive effect on a mature company, which has an experienced leader, because he can show another aspect, as a person who come from outside. During the examination of the capital structure, we cannot disregard the events of the company’s environment, which have effects on the firm. The investor’s decisions also appear different ways. Because of this, every venture capital investment is different, just as the capital structure of the firms, in which they invest.

  17. The Impact of China’s Fiscal Expenditure in Agriculture on Farmer’s Income

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    Based on the account of the vital role which the national finance played in supporting agriculture,the thesis presents the current situation of financial support for agriculture in China,in terms of the limited scale and irrational structure of financial support expenditure in agriculture.On the basis of the brief introduction of the current level of Chinese farmers’ income,the thesis discusses the effects of scale and irrational structure of financial support expenditure in agriculture on the farmers’ income,according to the related data of financial support expenditure in agriculture and rural per capita net income.The results indicate that the calculating regression equation has a remarkable explanation power,reflecting the positive role of financial support expenditure in agriculture played by national finance in increasing the farmers’ income.As regards the structure of financial support expenditure in agriculture at present,according to the proportion from high to low,the expenditure primarily consists of three parts from high to low in sequence as follows:productive expenditure and funds for public undertakings,capital construction expenditure,and rural relief expenditure plus science and technology funds.Such sequence deviates from the marginal production effects of financial support expenditure in agriculture and the correlation of farmers’ income,which demonstrates the severe irrationality of the structure of financial support expenditure in agriculture.Corresponding countermeasures are put forward as follows:on one hand,we should continue intensifying the efforts to support agriculture financially in order to form a regular increase mechanism;on the other hand,we should adjust and optimize the structure of financial support expenditure in agriculture,and further crystallize the investment flows.

  18. How do Expenditure Rules affect Fiscal Behaviour?

    OpenAIRE

    Peter Wierts

    2008-01-01

    This paper investigates the role of self-enforced national expenditure rules in limiting the expenditure bias and procyclical expenditure increases/decreases due to revenue windfalls/shortfalls. A simple model predicts that expenditure rules can have the intended effects, but only if the political and institutional costs of non compliance are sufficiently large. Empirical estimations provide some support that expenditure rules affect expenditure outcomes in the hypothesised manner, especially...

  19. DOSTOYEVSKI'S "CAPITAL"

    OpenAIRE

    GUNAL, E. Zeynep

    2012-01-01

    Dostoyevski who was always in need of money and in debt, wrote two great novels about capital: "Idiot" and "Crime and Punishment". In these novels the writer tries to prove the negative effects of capital on people. This article particularly focuses on "Crime and Punishment". Because crime is discussed as the multi-dimensional factor in this work. Moreover, it is claimed that in the troika of crime which formed of Raskolnikov, Svidrigaylov and Luzhin, Luzhin is the most dangerous character w...

  20. Intellectual Capital

    OpenAIRE

    Mardešič, Jakub

    2011-01-01

    The work is focused on intellectual capital and its reporting of intangible assets. First part of the work defines the basic theoretical principles, which are an essential part of the work for understanding the issue. Literature review discusses the various components of intellectual capital and focuses on their function within organizations. Work also discusses various approaches of literature and the authors developing a complex theoretical basis for this issue. The following practical part...

  1. Capitalizing China

    OpenAIRE

    Joseph Fan; Randall Morck; Bernard Yeung

    2011-01-01

    Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all ...

  2. The Capitalization of Wildlife Recreation Income into Farmland Values

    OpenAIRE

    Henderson, Jason R.; Moore, Sean

    2006-01-01

    Wildlife recreation - hunting, fishing, and wildlife watching - appears to be an increasingly important pastime for many Americans. From 1991-2001, U.S. wildlife recreation expenditures surged from $77 billion to $108 billion in 2001 dollars. Land lease and ownership expenditures by wildlife recreation participants are also rising and appear to be capitalized into farmland values. This paper analyzes the impact of hunting lease rates on farmland values in Texas. The results indicate that coun...

  3. Projecting future drug expenditures--2003.

    Science.gov (United States)

    Shah, Nilay D; Hoffman, James M; Vermeulen, Lee C; Hunkler, Robert J; Hontz, Karrie M

    2003-01-15

    Drug expenditure projections for 2003 and factors likely to influence drug costs are discussed. The United States continues to face the challenge of increased growth in health expenditures, and drug expenditures are continuing to increase faster than the growth in total health care expenditures. These increases can be largely attributed to an increase in the average age of the U.S. population and technological advancement. On the basis of price inflation and non-price inflationary factors, including increases in volume, shifts in patient and therapeutic intensity, and expected approval of new drugs, a 10-12% increase in drug expenditures in 2003 for the inpatient setting and a 13.5-15.5% increase for ambulatory care settings are forecasted. While few new drugs are expected to greatly influence expenditures in 2003, the continued diffusion of recently approved drugs such as drotrecogin alfa and nesiritide will have a dramatic impact on total drug expenditures and must be carefully considered in the budgeting process. An agent likely to have a significant impact on HIV treatment is enfuvirtide, the first in a new class of antiretrovirals (fusion inhibitors), but its high cost ($10,000-$15,000 per year) may limit patients' access to this medication. An expanded user's guide is provided to assist the reader in appropriate application of this information in the drug budgeting process. Technological, demographic, and market-based changes and changes in public policy will continue to influence pharmaceutical expenditures in the coming year. An understanding of the overall drivers of medication expenditures and vigilance in monitoring pharmaceutical innovation are critical in the effective management of these resources. PMID:12561658

  4. EU pharmaceutical expenditure forecast

    Science.gov (United States)

    Urbinati, Duccio; Rémuzat, Cécile; Kornfeld, Åsa; Vataire, Anne-Lise; Cetinsoy, Laurent; Aballéa, Samuel; Mzoughi, Olfa; Toumi, Mondher

    2014-01-01

    (−€5,589 million), and, far behind them, Germany (−€831 million), Greece (−€808 million), Portugal (−€243 million), and Hungary (−€84 million). The main source of savings came from the cardiovascular, central nervous system, and respiratory areas and from biosimilar entries. Oncology, immunology, and inflammation, in contrast, lead to additional expenditure. The model was particularly sensitive to the time to market of branded products, generic prices, generic penetration, and the distribution of biosimilars. Conclusions The results of this forecast suggested a decrease in pharmaceutical expenditure in the studied period. The model was sensitive to pharmaceutical policy decisions.

  5. The Changes of Fiscal Agriculture-Supporting Expenditure and Farmers’ Income Based on Grey Correlation Theory

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    According to the relevant data of China Statistical Yearbook and Chinese Rural Statistical Yearbook in the year of 2009,the changes of grey correlation degree of farmers’ net income,various items of incomes,national gross agriculture-supporting expenditure and various items of expenditures,farmers’ net income and various items of fiscal agriculture-supporting expenditure in the Eighth Five-Year Plan,Ninth Five-Year Plan and Tenth Five-Year Plan by using grey correlation degree and the by choosing seven indicators covering income from wage and salary,income from household business,transfer income and property income,agricultural production-supporting expenditure,agricultural basic construction expenditure,expenses of three items of agricultural technology and the fee of rural relief.The results show that the grey correlation degree of each time period and household net income shows the downward trend;from overall perspective,the grey correlation degree of national gross agriculture-supporting expenditure,agricultural basic construction expenditure and agricultural production-supporting expenditure shows the descending trend;the grey correlation degree of fiscal agricultural supporting expenditure and the expenditure of three items of agricultural technology and fee of rural relief show the upward trend;the influence of agricultural production-supporting expenditure on farmers’ income shows downward trend;the influence of agricultural basic construction on farmers’ income shows upward trend;the fee of rural relief play an active role in the promoting the farmers’ income increase;the role played by fee of rural relief in promoting farmers’ income increase should be further increased;the increase of farmers’ income shows great reliance on agricultural science and technology.In the end,the relevant suggestions on establishing stable increase mechanism of fiscal agricultural support and insisting on the dynamic adjustment of the structure of fiscal

  6. Bringing the Military Back in: Military Expenditures and Economic Growth 1990 to 2003

    Directory of Open Access Journals (Sweden)

    Jeffrey Kentor

    2015-08-01

    Full Text Available After the “peace bonus” era, global military expenditures have escalated sharply despite some worldwide declines in military personnel. Theories on the economic impacts of the military institution and escalated military spending greatly differ and include arguments that they either improve domestic economic performance or crowd out growth-inducing processes. Empirical findings on this matter are inconclusive, in part due to a failure to disentangle the various dimensions of military expenditures. We further suggest that modern sociology's relative inattention to such issues has contributed to these shortcomings. We explore a new dimension of military spending that clarifies this issue—military expenditures per soldier —which captures the capital intensiveness of a country’s military organization. Our cross-national panel regression and causal analyses of developed and less developed countries from 1990 to 2003 show that military expenditures per soldier inhibit the growth of per capita GDP, net of control variables, with the most pronounced effects in least developed countries. These expenditures inhibit national development in part by slowing the expansion of the labor force. Labor-intensive militaries may provide a pathway for upward mobility, but comparatively capital-intensive military organizations limit entry opportunities for unskilled and under- or unemployed people. Deep investments in military hardware also reduce the investment capital available for more economically productive opportunities. We also find that arms imports have a positive effect on economic growth, but only in less developed countries.

  7. Tax Expenditures: A Theoretical Review

    Directory of Open Access Journals (Sweden)

    Vjekoslav Bratić

    2006-06-01

    Full Text Available Tax expenditures are an instrument frequently used when a government wishes to achieve certain economic and social effects. But because of the increasing number and scope of tax expenditures, their proper use, quality of administration and record-keeping have become a major challenge for the tax authorities and the whole of the government. The article considers and explains very diverse forms of tax expenditure such as reliefs, tax deductions, tax allowances, tax exceptions and special rates of taxation and the ways in which they are defined and calculated. The key problems in the analysis are the absence of a single definition and of methodology for the calculations; these ultimately make it impossible to compare tax expenditures between or among countries.

  8. National Health Expenditures - State (Provider)

    Data.gov (United States)

    U.S. Department of Health & Human Services — The National Health Expenditure Accounts (NHEA) are the official estimates of total health care spending in the United States. Personal health care (PHC)...

  9. National Health Expenditures - State (Residence)

    Data.gov (United States)

    U.S. Department of Health & Human Services — The National Health Expenditure Accounts (NHEA) are the official estimates of total health care spending in the United States. Personal health care (PHC)...

  10. Intelligence Capital

    Directory of Open Access Journals (Sweden)

    Maid Pajevic

    2011-08-01

    Full Text Available The author of this article presents a new theoretical concept of intelligence capital, with which he explains the multi-meaningful term ‘intelligence’. The author offers a conceptual frame „intelligence capital“ as a generic complex consisting of four interactively linked elements. The contribution of this article is, among other things, an answer to a question: What is an applicative value of intelligence capital as a new theoretical concept for the sys­tem of security and intelligence of BiH? Historical context implies greater responsibility of OSA BiH in realising its preventive function of protecting security of BiH and its citizens. Theoretical frame of the intelligence capital implies that the system of security and intelligence of BiH should be able to respond to strategic questions: to know-what, to know – why, to know – how, to know – who.

  11. PREPS2 - a PC-based computer program for performing economic analysis of capital projects

    International Nuclear Information System (INIS)

    In these times of increased spending to finance new capacity and to meet clean air act legislation, many electric utilities are giving a high priority to controlling capital expenditures at existing generating facilities. Determining the level of capital expenditures which are economically justified is very difficult; units which have higher capacity factors are worth more to the utility. Therefore, the utility can more readily justify higher capital expenditures to improve or maintain reliability and heat rate than on units with lower capacity factors. This paper describes a PC-based computer program (PREPS2) which performs an economic analysis of individual capital projects. The program incorporates tables which describe the worth to the system of making improvements in each unit. This computer program is currently being used by the six Southern Company operating companies to evaluate all production capital projects over $50,000. Approximately 500 projects representing about $300 million are being analyzed each year

  12. Redistributive Taxation and Public Expenditures

    OpenAIRE

    Bandyopadhyay, Sanghamitra; Esteban, Joan

    2007-01-01

    We introduce a model of redistributive income taxation and public expenditure. Besides redistributing personal income by means of taxes and transfers, the government supplies goods and services. The government chooses the tax schedule that is found acceptable by the largest share possible of the population. We show that there is a unique income tax schedule that is universally acceptable. The progressivity of the income tax is shown to depend on the composition of the public expenditure and o...

  13. Public expenditure planning in Albania

    OpenAIRE

    Bogdani, Irena Dh.

    2002-01-01

    This paper looks at public expenditure planning in Albania, presenting and analysing the first two post-communist era Medium-Term Expenditure Plans (METPs) that have been introduced by the Albanian government for the periods 2000-2001 and 2002-2004, respectively. Albania's medium-term macroeconomic perspectives and elements of fiscal decentralisation, as incorporated by the Local Government Law of Albania, are presented, too. It is found that, taking into account the first years of post-commu...

  14. Intelligence Capital

    OpenAIRE

    Maid Pajevic

    2011-01-01

    The author of this article presents a new theoretical concept of intelligence capital, with which he explains the multi-meaningful term ‘intelligence’. The author offers a conceptual frame „intelligence capital“ as a generic complex consisting of four interactively linked elements. The contribution of this article is, among other things, an answer to a question: What is an applicative value of intelligence capital as a new theoretical concept for the sys­tem of security and intelligence of Bi...

  15. Trinidadian capitalism

    OpenAIRE

    Kevin A. Yelvington

    1999-01-01

    [First paragraph] Capitalism: An Ethnographic Approach. DANIEL MILLER. Oxford: Berg, 1997. x + 357 pp. (Cloth £39.00, Paper £17.99) Women, Labour and Politics in Trinidad and Tobago: A History. RHODA E. REDDOCK. London: Zed, 1994. vi + 346 pp. (Cloth £39.95, Paper £15.95) Despite the underdeveloped state of the scholarship on its admittedly short sugar plantation slavery period, we now have a corpus of studies on various aspects of capitalism in Trinidad - from its histor...

  16. Marketing communication expenditures and financial capital—the impact of marketing as an option

    NARCIS (Netherlands)

    V.L. Hodgson; A. Hodgson

    2008-01-01

    This paper examines the financial effectiveness of marketing communication expenditure (MCE) as an instrument to increase risk-weighted capital. We nest a cross-sectional time-series panel model within the risk-adjusted earnings principles of Ohlson (1995), and apply the model to a dataset of NSW cr

  17. Expenditure Composition in Indian State Governments

    OpenAIRE

    M. Seenuvasan

    2005-01-01

    The study of Expenditure Composition on scientific basis helps us to understand the relative importance, quality, effects and nature of various kinds of expenditure. The study of expenditure composition at the disaggregative level would be of useful to policy makers to examine and evaluate the effects and efficiency of allocation of fiscal resources on desirable directions. Prof Shiras said that the test of public expenditure is not the aggregate expenditure, but it is the pattern of expendit...

  18. Trade, Capital Mobility, and Tax Competition.

    OpenAIRE

    Wilson, John Douglas

    1987-01-01

    This paper examines a system of governments that finance public expenditures with taxes on mobile capital. Unlike previous research on "tax competition," expli cit consideration is given to the general-equilibrium determination o f the prices at which goods are traded between regions. The analysis identifies inefficiencies in government behavior that are not apparen t in models in which the terms of trade are exogenously given. Capita l taxation is shown to create an inefficient distribution ...

  19. The Capital Intensity of Photovoltaics Manufacturing

    Energy Technology Data Exchange (ETDEWEB)

    Basore, Paul

    2015-10-19

    Factory capital expenditure (capex) for photovoltaic (PV) module manufacturing strongly influences the per-unit cost of a c-Si module. This provides a significant opportunity to address the U.S. DOE SunShot module price target through capex innovation. Innovation options to reduce the capex of PV manufacturing include incremental and disruptive process innovation with c-Si, platform innovations, and financial approaches. and financial approaches.

  20. Allergy Capitals

    Science.gov (United States)

    ... McAllen, TX The report looks at 3 important factors: Pollen score Allergy medication usage Availability of Board-certified allergists This year’s report named Jackson, Mississippi, as the top Spring Allergy Capital due to its: Higher than average pollen Higher ...

  1. Dream capitalism

    OpenAIRE

    Pierson, Christopher

    2015-01-01

    John Tomasi’s Free Market Fairness represents an heroic attempt to bridge the gap between Rawlsian ‘high liberals’ and the advocates of classical liberalism/contemporary libertarianism. I argue that Tomasi’s project fails, above all because it cannot give a compelling account of contemporary (American) capitalism or of its capacity to deliver free market fairness.

  2. Optimal Capital Versus Labor Taxation with Innovation-Led Growth

    OpenAIRE

    Philippe Aghion; Ufuk Akcigit; Jesús Fernández-Villaverde

    2013-01-01

    Chamley (1986) and Judd (1985) showed that, in a standard neoclassical growth model with capital accumulation and infinitely lived agents, either taxing or subsidizing capital cannot be optimal in the steady state. In this paper, we introduce innovation-led growth into the Chamley-Judd framework, using a Schumpeterian growth model where productivity-enhancing innovations result from profit-motivated R&D investment. Our main result is that, for a given required trend of public expenditure, a z...

  3. Dominica : OECS Fiscal Issues, Policies to Achieve Fiscal Sustainability and Improve Efficiency and Equity of Public Expenditures

    OpenAIRE

    World Bank

    2005-01-01

    This report concludes that during FY1993/94 to FY002/03 the fiscal policy implemented by the government of Dominica was unsustainable and posed a risk to the stability of the currency board arrangement. Moreover, this report recommends that most of the adjustment required to achieve a sustainable fiscal policy needed to come from expenditure cuts, in particular a reduction in the number of established and non-established positions, and from focusing capital expenditures on projects geared to ...

  4. Trinidadian capitalism

    Directory of Open Access Journals (Sweden)

    Kevin A. Yelvington

    1999-07-01

    Full Text Available [First paragraph] Capitalism: An Ethnographic Approach. DANIEL MILLER. Oxford: Berg, 1997. x + 357 pp. (Cloth £39.00, Paper £17.99 Women, Labour and Politics in Trinidad and Tobago: A History. RHODA E. REDDOCK. London: Zed, 1994. vi + 346 pp. (Cloth £39.95, Paper £15.95 Despite the underdeveloped state of the scholarship on its admittedly short sugar plantation slavery period, we now have a corpus of studies on various aspects of capitalism in Trinidad - from its historical advent (Sebastien 1978 to its twentieth-century manifestation in the petroleum sector (Seers 1964; Sandoval 1983, and from the ethnic structure of labor markets (Camejo 1971; Harewood 1971 and the role of capitalism in racial/ethnic inequality (Henry 1993; Coppin & Olsen 1998 to the way ethnicity affects business, big (Button 1981; Parris 1985; Centre for Ethnic Studies 1993 and small (Ryan & Barclay 1992; Griffith 1997, and the way ethnicity and gender are used in class recruitment (Yelvington 1995. There are also a number of fine working-class histories (e.g., Rennie 1973; Ramdin 1982; Basdeo 1983 and important works on the labor riots and strikes and the nature of the colonial state during the crises of the 1930s (e.g., Thomas 1987; Singh 1994. The two books under review here complement the works mentioned above, and they complement each other as well: Reddock's deals with the way capitalism up to the mid-century was buttressed by colonial politics, and explores how this formation engendered certain kinds of political responses, while Miller approaches capitalism through the assumption that fundamental changes in the post-Oil Boom period (ca. 1973-80 brought about considerable autonomy between production and consumption that can and should now be read through an analysis of the cultural circulation of images and commodities in the society. These books are both noteworthy because they engage in explicit theorizing on what capitalism was and is, and what it did and

  5. Instrumental Capital

    Directory of Open Access Journals (Sweden)

    Gabriel Valerio

    2007-07-01

    Full Text Available During the history of human kind, since our first ancestors, tools have represented a mean to reach objectives which might otherwise seemed impossibles. In the called New Economy, where tangibles assets appear to be losing the role as the core element to produce value versus knowledge, tools have kept aside man in his dairy work. In this article, the author's objective is to describe, in a simple manner, the importance of managing the organization's group of tools or instruments (Instrumental Capital. The characteristic conditions of this New Economy, the way Knowledge Management deals with these new conditions and the sub-processes that provide support to the management of Instrumental Capital are described.

  6. Contagious Capitalism

    OpenAIRE

    Peter T. Leeson; Russell S. Sobel

    2006-01-01

    Is capitalism contagious? Since WWI, global foreign policy has treated economic freedom/repression like a virus that spreads between countries. Most recently, the ?domino theory? of freedom has played prominently in U.S. foreign policy toward Asia, Latin America, and the Caribbean during the Cold War, and the Middle East during the War on Terror. This paper investigates the spread of economic freedom between nations. Our analysis considers two potential channels of this spread: geography and ...

  7. Does the Budget Expenditure Composition Matter for Long-Run Economic Growth in a Resource Rich Country? Evidence from Azerbaijan

    Directory of Open Access Journals (Sweden)

    Khatai Aliyev

    2016-06-01

    Full Text Available This study investigates the role of budget expenditure composition over Azerbaijan’s non-oil economic growth in the long-run by classifying public spending as capital, social and other expenditures. Authors’ employ ARDLBT approach to co-integration for the period of 2000Q1-2014Q4 to estimate long-run contribution of each spending category before-and-after the oil boom while controlling for oilrelated factors. Empirical results endorse the validity of long-run association among variables. Results concluded insignificant negative impact of capital expenditures, and significant negative impact of other expenditures. However, social spending has statistically and economically strong positive impact over the non-oil output growth. Therefore, research findings confirm that public expenditure composition significantly matters for long-run non-oil economic growth, and social expenditures have the greater positive impact in a resource-rich economy, Azerbaijan. Research results are highly useful for the government officials to consider while planning the expenditures in order to minimize negative response of non-oil sector to the fiscal contraction.

  8. The Long-Term Impact of Human Capital Investment on GDP: A Panel Cointegrated Regression Analysis

    Directory of Open Access Journals (Sweden)

    Ahmet Gökçe Akpolat

    2014-01-01

    Full Text Available This study aims to determine the long-run impact of physical and human capital on GDP by using the panel data set of 13 developed and 11 developing countries over the period 1970–2010. Gross fixed capital formation is used as physical capital indicator while education expenditures and life expectancy at birth are used as human capital indicators. Panel DOLS and FMOLS panel cointegrated regression models are exploited to detect the magnitude and sign of the cointegration relationship and compare the effect of these physical and human capital variables according to these two different country groups. As a consequence of panels DOLS and FMOLS models, the impact of physical capital and education expenditures on GDP in the developed countries is determined as higher than the impact in the developing countries. On the other hand, the impact of life expectancy at birth on GDP is determined as higher in the developing countries.

  9. Pollution Abatement and Control Expenditures Survey (PACE)

    Data.gov (United States)

    U.S. Environmental Protection Agency — The Pollution Abatement Costs and Expenditures (PACE) survey is the most comprehensive national source of pollution abatement costs and expenditures related to...

  10. Determinants of military expenditure in Zimbabwe

    OpenAIRE

    Zachary Tambudzai

    2011-01-01

    While many articles have been written on the determinants of military expenditure in developing countries, few have attempted to use a qualitative approach to investigate the underlying motives for military expenditure. This article uses data drawn from interviews with key informants and documentary sources to study the determinants of military expenditure in Zimbabwe. Findings suggest that Zimbabwe’s military expenditure since 1980 has been influenced more by internal political dynamics than...

  11. Government consumption expenditures and the current account

    OpenAIRE

    Michele Cavallo

    2005-01-01

    This paper distinguishes between two components of government consumption, expenditure on final goods and expenditure on hours, and compares the effects of changes in these two on the current account. I find that changes in government expenditure on hours do not directly affect the current account and that their impact is considerably smaller than the impact produced by changes in government expenditure on final goods. These findings indicate that considering government consumption as entirel...

  12. 76 FR 50887 - Elections Regarding Start-Up Expenditures, Corporation Organizational Expenditures, and...

    Science.gov (United States)

    2011-08-17

    ... Internal Revenue Service 26 CFR Part 1 RIN 1545-BE77 Elections Regarding Start-Up Expenditures, Corporation... final regulations relating to elections to deduct start-up expenditures, organizational expenditures of... the lesser of (1) the amount of the start-up expenditures that relate to the active trade or...

  13. Does military expenditure influence economic growth in Nigeria during 1989 - 2013? A bound testing approach

    OpenAIRE

    Apanisile, Tolulope Olumuyiwa; Okunlola, Charles Olalekan

    2014-01-01

    The study examines the effect of military expenditure on output in Nigeria both in the short-run and in the long-run period. In addition, it verified whether military expenditure is an economically non-contributive activity using ARDL bounds testing approach to co-integration. Results showed that military spending has negative and significant effect on output in the short-run but positive and significant effect in the long-run. Labour and capital have positive and significant effects both in ...

  14. Estimating the Relationship between Economic Growth and Health Expenditures in ECO Countries Using Panel Cointegration Approach.

    Science.gov (United States)

    Hatam, Nahid; Tourani, Sogand; Homaie Rad, Enayatollah; Bastani, Peivand

    2016-02-01

    Increasing knowledge of people about health leads to raising the share of health expenditures in government budget continuously; although governors do not like this rise because of budget limitations. This study aimed to find the association between health expenditures and economic growth in ECO countries. We added health capital in Solow model and used the panel cointegration approach to show the importance of health expenditures in economic growth. For estimating the model, first we used Pesaran cross-sectional dependency test, after that we used Pesaran CADF unit root test, and then we used Westerlund panel cointegration test to show if there is a long-term association between variables or not. After that, we used chaw test, Breusch-Pagan test and Hausman test to find the form of the model. Finally, we used OLS estimator for panel data. Findings showed that there is a positive, strong association between health expenditures and economic growth in ECO countries. If governments increase investing in health, the total production of the country will be increased, so health expenditures are considered as an investing good. The effects of health expenditures in developing countries must be higher than those in developed countries. Such studies can help policy makers to make long-term decisions. PMID:26997596

  15. Flexible Capitalism

    DEFF Research Database (Denmark)

    Approaching “work” as at heart a practice of exchange, this volume explores sociality in work environments marked by the kind of structural changes that have come to define contemporary “flexible” capitalism. It introduces anthropological exchange theory to a wider readership, and shows how the...... perspective offers new ways to enquire about the flexible capitalism’s social dimensions. The essays contribute to a trans-disciplinary scholarship on contemporary economic practice and change by documenting how, across diverse settings, “gift-like” socialities proliferate, and even sustain the intensified...... flexible commoditization that more commonly is touted as tearing social relations apart. By interrogating a keenly debated contemporary work regime through an approach to sociality rooted in a rich and distinct anthropological legacy, the volume also makes a novel contribution to the anthropological...

  16. Understanding Capitalism

    DEFF Research Database (Denmark)

    du Gay, Paul; Morgan, Glenn

    2013-01-01

    they are to be sustained. Such logics are stabilized to the degree that they can pass the tests which they set themselves. The chapter shows how the projective city has increasingly failed these tests. It has instead created a privileged group of ‘mobile citizens’ working with mobile, global capital in...... ways that increasingly depend on a static, immobile group who are poorly paid, whose employment rights have been undermined and whose political voice is increasingly ignored. The chapter shows how Boltanski's pragmatist approach to critique as emergent from the experience of the actors themselves...... rather than being imposed by the analyst provides the basis for an understanding of how social and artistic critiques emerge. Whilst recognizing that New Spirits inevitably bears the marks of its origins in the particular context of France in the late 1990s, the chapter argues that there are key aspects...

  17. Relationship between information asymmetry and cost of capital

    Directory of Open Access Journals (Sweden)

    Fateme Rahmani

    2013-01-01

    Full Text Available Shareholders expected return is normally impacted by informational risk and informational asymmetry, on the other hand, creates informational risk. Thus, investors demand greater risk premium in the case of informational asymmetry and in turn corporate expenditures increase. In this study, we determine the relationship between informational asymmetry and capital cost. The study uses information of 109 companies listed in Tehran Securities Exchange over the period of 2005-2010 and the results suggest a positive and significant relationship between informational asymmetry and capital cost. In addition, the results from present research indicate that when capital markets are competitive, there is not a significant relationship between informational asymmetry and capital cost. But when markets are partially competitive there is a significant relationship between informational asymmetry and capital cost.

  18. Placing social capital

    OpenAIRE

    G Mohan; J Mohan

    2002-01-01

    Metadata only record This paper looks at the relevance and contributions of social capital analysis to human geography and vise versa. The authors start by defining social capital and clarifying and distinguishing concepts, and critiques of Putnam's work. Social capital is simultaneously an economic, sociological, political, and geographical concept, but it must be distinguished from human capital, cultural capital, and networks. Social capital can be relevant to human geographers because ...

  19. Educational Expenditure: Implications for Equality

    OpenAIRE

    McCoy, Selina; Smyth, Emer

    2003-01-01

    Inequalities in educational outcomes over time are described. Patterns of educational expenditure are outlined, highlighting differences between and within the primary, secondary and tertiary sectors. Recent policy developments are explored which involve targeting spending on "disadvantaged" schools, through special programmes and initiatives. The implications of educational failure for labour market and other outcomes among young people in particular and the adult population in general are d...

  20. Hopf bifurcation in a environmental defensive expenditures model with time delay

    International Nuclear Information System (INIS)

    In this paper a three-dimensional environmental defensive expenditures model with delay is considered. The model is based on the interactions among visitors V, quality of ecosystem goods E, and capital K, intended as accommodation and entertainment facilities, in Protected Areas (PAs). The tourism user fees (TUFs) are used partly as a defensive expenditure and partly to increase the capital stock. The stability and existence of Hopf bifurcation are investigated. It is that stability switches and Hopf bifurcation occurs when the delay t passes through a sequence of critical values, τ0. It has been that the introduction of a delay is a destabilizing process, in the sense that increasing the delay could cause the bio-economics to fluctuate. Formulas about the stability of bifurcating periodic solution and the direction of Hopf bifurcation are exhibited by applying the normal form theory and the center manifold theorem. Numerical simulations are given to illustrate the results.

  1. Household expenditure on food at home in Malaysia

    OpenAIRE

    Tey, (John) Yeong-Sheng

    2008-01-01

    “Engel’s law” explains that the share of household expenditure on food typically falls as income and expenditure increase. The objectives of this study are to investigate the food expenditure patterns of different income groups and the relationships between household characteristics and expenditure patterns. Household Expenditure Survey 2004/2005 data from Department of Statistics was used to analyze the food expenditure pattern of households. An expenditure model was developed and the coeffi...

  2. National accounting and capital

    OpenAIRE

    John M. Hartwick

    2012-01-01

    National Accounting and Capital presents definitive solutions to current problems in national accounting practice. Professor Hartwick deals expertly with problems in accounting natural capital, financial capital and skills capital and communicates his solutions in specially designed national accounting tables or matrices.

  3. State energy price and expenditure report 1994

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-06-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the United States. The price and expenditure estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1994. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1994, Consumption Estimates (SEDR), published in October 1996. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources. Documentation is included describing the development of price estimates, data sources, and calculation methods. 316 tabs.

  4. State energy price and expenditure report 1994

    International Nuclear Information System (INIS)

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the United States. The price and expenditure estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1994. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1994, Consumption Estimates (SEDR), published in October 1996. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources. Documentation is included describing the development of price estimates, data sources, and calculation methods. 316 tabs

  5. Public Education Expenditures and Private School Enrollment

    OpenAIRE

    Fernanda Estevan

    2014-01-01

    In this paper, I investigate whether increases in public education expenditures lead to reductions in private school enrollment. In order to deal with the endogeneity of public expenditures, I use as a natural experiment the 1998 FUNDEF reform in Brazil that caused exogenous variations in local public school funding. Using data from Brazilian School and Population Censuses, I show that public education expenditures increases are associated with reductions in the share of private school enroll...

  6. Structure and determinants of consumer expenditures

    OpenAIRE

    Stejskal, Ladislav; Stávková, Jana

    2011-01-01

    The local and worldwide present economic situation is often judged and discussed on the basis of the consumer expenditures development. Consumer expenditures or a buying behaviour outcome of each individual market subject is in marketing defined as a product and service seeking, from that consumers expect satisfying of their needs. On the basis of the introduced determination authors conducted a marketing research. Results in combination with a marketing insight into consumer expenditures rea...

  7. Rationalising Public Expenditure in the Slovak Republic

    OpenAIRE

    Rauf Gönenç; Peter Walkenhorst

    2004-01-01

    Over the past decade, public expenditure in Slovakia was characterised by substantial social transfers and high public sector wage expenses. This paper analyses the main features of Slovakia’s public expenditure system, reviews expenditure trends, and discusses recent reform initiatives. The latter have concerned the introduction of medium-term budget projections, the switch towards performance-based budgeting, the limitation of extra-budgetary funds, the devolution of spending power to sub-c...

  8. Angola : Public Expenditure Management and Financial Accountability

    OpenAIRE

    World Bank

    2005-01-01

    One of the most salient features of Angola's public expenditure management and financial accountability framework is the coexistence of two parallel, but articulated, expenditure execution systems: the conventional system, coordinated by the National Treasury Directorate, and a non-conventional one centered around the national oil company Sonangol. A standard assessment of a country's fiscal framework would usually concentrate on the conventional system; the Public Expenditure Management and ...

  9. Sugar Production, Consumption, and Consumer Expenditure Analysis

    OpenAIRE

    Adrian Stancu

    2014-01-01

    The paper examines, firstly, the connection among sugar production, sugar consumption and population number. Secondly, it highlights the relationship between sugar consumption and the weight of sugar and confectionery consumer expenditure in the food and non-alcoholic beverages consumer expenditure category as well as in disposable income. Two matrices of countries were proposed based on the sugar consumption and the weight of sugar and confectionery consumer expenditure in the food and non-a...

  10. Household energy and consumption and expenditures, 1990

    International Nuclear Information System (INIS)

    The purpose of this supplement to the Household Energy Consumption and Expenditures 1990 report is to provide information on the use of energy in residential housing units, specifically at the four Census regions and nine Census division levels. This report includes household energy consumption, expenditures, and prices for natural gas, electricity, fuel oil, liquefied petroleum gas (LPG), and kerosene as well as household wood consumption. For national-level data, see the main report, Household Energy Consumption and Expenditures 1990

  11. A multivariate nonlinear analysis of tourism expenditures

    OpenAIRE

    Marta Disegna; Fabrizio Durante; Enrico Foscolo

    2013-01-01

    Independence among different tourism expenditure categories is the most convenient hypothesis for modeling decision–making processes. Nevertheless, the best-suited framework would require dependence among expenditures in order to face individual budget and ordered choices. To this end we provide a new multivariate copula-based logit model with explanatory variables. We applied our tools to the expenditures of the foreign tourists visiting South–Tyrol (Northern Italy), and we underlined the ne...

  12. Public Expenditure Management in Poland

    OpenAIRE

    Andrew Burns; Kwang-Yeol Yoo

    2002-01-01

    This paper assesses the public expenditure system in Poland and the scope for its reform. Though a number of important steps to control the future evolution of spending, such as pension reform and healthcare reform, have already made in Poland, much more needs to be done. Indeed budget consolidation and the government’s goal of increasing the economy’s potential rate of growth can best be achieved by a far ranging re-evaluation and reorientation of spending away from personal transfers that c...

  13. Capitalism and human flourishing?

    OpenAIRE

    Gasper, D.R.

    2009-01-01

    What interpretation of human flourishing, what ideas of value does capitalism in practice embody and promote? To address this question the paper clarifies first that "capitalism" must be understood as more than merely a system of private property and markets. It contains "the prerogative of capital", in which surplus remains with the owners of capital, and "the perspective of capital", in which hired work is defined as a cost. The question must also be distinguished from more conventional one...

  14. Capitalism and justification

    OpenAIRE

    Birešev Ana

    2009-01-01

    Weber's thesis that the spirit of capitalism was preexistent to the rise of capitalism itself inspired many sociologist to search for the cultural background of contemporary forms of capitalism. In this paper, the author focuses on and makes comparisons of three approaches of such kind. The one approach draws from Luc Boltanski and Ève Chiapello who examine the development of 'new spirit of capitalism' by focusing on the interrelation of two macroactors - capitalism and critique; the other on...

  15. Geographic Distribution of VA Expenditures FY1996

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  16. Geographic Distribution of VA Expenditures FY2002

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  17. Geographic Distribution of VA Expenditures FY2003

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  18. Geographic Distribution of VA Expenditures FY1998

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  19. Geographic Distribution of VA Expenditures FY2008

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  20. Geographic Distribution of VA Expenditures FY2012

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  1. Geographic Distribution of VA Expenditures FY2006

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  2. Geographic Distribution of VA Expenditures FY2001

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  3. Geographic Distribution of VA Expenditures FY2000

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  4. Geographic Distribution of VA Expenditures FY2005

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  5. Geographic Distribution of VA Expenditures FY2004

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  6. Geographic Distribution of VA Expenditures FY2009

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  7. Geographic Distribution of VA Expenditures FY2010

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  8. Geographic Distribution of VA Expenditures FY2007

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  9. Geographic Distribution of VA Expenditures FY2011

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  10. Geographic Distribution of VA Expenditures FY1999

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  11. Geographic Distribution of VA Expenditures FY1997

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  12. Geographic Distribution of VA Expenditures FY2013

    Data.gov (United States)

    Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...

  13. State energy price and expenditure report 1990

    International Nuclear Information System (INIS)

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the United States. The estimates are provided by energy source and economic sector. This report is an update of the State Energy Price and Expenditure Report 1989 published in September 1991. Energy price and expenditure estimates are published for the years 1970, 1975, 1980, and 1985 through 1990. Documentation follows the tables and describes how the price estimates are developed, including sources of data, methods of estimation, and conversion factors applied

  14. Income Imputation and the Analysis of Expenditure Data in the Consumer Expenditure Survey

    OpenAIRE

    Jonathan Fisher

    2006-01-01

    The Consumer Expenditure (CE) Survey began imputing income in its 2004 data. Imputation predicts income for households that reported receiving income but failed to report a specific value. In this study, I examine how income imputation affects analysis of the CE expenditure data. Most importantly, research that uses both income and expenditures from 2004 on will not have to restrict the sample to households that reported income. The expenditure results most sensitive to the introduction of in...

  15. Eurozone Imbalances: Measuring the Contribution of Expenditure Switching and Expenditure Volumes 1990-2013

    OpenAIRE

    Enno Schröder

    2015-01-01

    This paper introduces a decomposition of the trade ratio. The dynamics of the trade ratio are composed of contributions from expenditure switching, from the terms of trade, and from relative expenditure (i.e. the ratio of foreign to domestic expenditure). Country-specific, dynamically tradeweighted indicators of foreign expenditure are constructed for use in the application of the decomposition to 11 euro area countries in 1990-2013. Over 1999-2007, Germany and Spain shared the same pattern o...

  16. The quantitative role of capital-goods imports in U.S. growth

    OpenAIRE

    Michele Cavallo; Anthony E. Landry

    2010-01-01

    Over the last 40 years, an increasing share of U.S. aggregate E&S investment expenditure has been allocated to capital-goods imports. While capital-goods imports were only 3.5 percent of E&S investment in 1967, by 2008 their share had risen tenfold to 36 percent. The goal of this paper is to measure the contribution of capital-goods imports to growth in U.S. output per hour using a simple growth accounting exercise. We find that capital-goods imports have contributed 20 to 30 percent to growt...

  17. Capital disadvantage: America's failing capital investment system.

    Science.gov (United States)

    Porter, M E

    1992-01-01

    The U.S. system of allocating investment capital is failing, putting American companies at a serious disadvantage and threatening the long-term growth of the nation's economy. The problem, says Michael Porter, goes beyond the usual formulation of the issue: accusations of "short-termism" by U.S. managers, ineffective corporate governance by directors, or a high cost of capital. The problem involves the external capital allocation system by which capital is provided to companies, as well as the system by which companies allocate capital internally. America's system is marked by fluid capital and a financial focus. Other countries--notably Japan and Germany--have systems with dedicated capital and a focus on corporate position. In global competition, where investment increasingly determines a company's capacity to upgrade and innovate, the U.S. system does not measure up. These conclusions come out of a two-year research project sponsored by the Harvard Business School and the Council on Competitiveness. Porter recommends five far-reaching reforms to make the U.S. system superior to Japan's and Germany's: 1. Improve the present macroeconomic environment. 2. Expand true ownership throughout the system so that directors, managers, employees, and even customers and suppliers hold positions as owners. 3. Align the goals of capital providers, corporations, directors, managers, employees, customers, suppliers, and society. 4. Improve the information used in decision making. 5. Foster more productive modes of interaction and influence among capital providers, corporations, and business units. PMID:10121317

  18. Intangible Capital and Ramsey Capital Taxation (updated)

    OpenAIRE

    Juan Carlos Conesa; Begoña Domínguez

    2009-01-01

    The standard analysis of optimal fiscal policy in the neoclassical growth model, e.g. Chamley (1986) and Judd (1985), aggregates different types of assets into a unique capital good and all sorts of capital taxes into a unique capital tax. There, the optimal capital tax rate is very high in the short-run and zero in the long-run and, inevitably, time-inconsistent. This paper shows that this classic result does not hold in a more disaggregated framework. As proposed in McGrattan and Prescott (...

  19. Human Capital a Part of Social Capital

    OpenAIRE

    Inna Fedoryshina

    2014-01-01

    The article considers the content and the structure of human capital. The term “human capital” is viewed as people’s abilities toparticipate in the production process in order to make use of their potential skills. A particular attention is paid to the meaning ofsocial capital and its role in the formation of human capital. It is proven that there is not much research on the connection betweenhuman and social capital. Human development index in Ukraine and 20 leading counties of the global ra...

  20. Do Firms Announcing Cash Refund Capital Reductions have Investment Value?

    Directory of Open Access Journals (Sweden)

    Su-Yin Cheng

    2016-05-01

    Full Text Available Cash refund capital reduction is a unique financial tool used by listed firms in Taiwan. This study investigates announcements of cash refund capital reductions to explore two topics. First, we examine the short-term, mid-term, and long-term buy-and-hold excess returns after the announcement. The results indicate that no excess returns are seen in the short and midterm,whereas long-term excess returns are positive and statistically significant. Second, we investigate the critical determinants of long-term excess return. The findings suggest that if a firm announces a cash refund capital reduction becomes more attractive to investors, the firm shall accompany with reduced firm size, reduced capital expenditure ratio, and improved return on equity (ROE and an increased debt ratio.

  1. State energy price and expenditure report 1989

    Energy Technology Data Exchange (ETDEWEB)

    1991-09-30

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates for the 50 States, the District of Columbia, and the United States. The estimates are provided by energy source (e.g., petroleum, natural gas, coal, and electricity) and by major consuming or economic sector. This report is an update of the State Energy Price and Expenditure Report 1988 published in September 1990. Changes from the last report are summarized in a section of the documentation. Energy price and expenditure estimates are published for the years 1970, 1975, 1980, and 1985 through 1989. Documentation follows the tables and describes how the price estimates are developed, including sources of data, methods of estimation, and conversion factors applied. Consumption estimates used to calculate expenditures, and the documentation for those estimates, are from the State Energy Data Report, Consumption Estimates, 1960--1989 (SEDR), published in May 1991. Expenditures are calculated by multiplying the price estimates by the consumption estimates, adjusted to remove process fuel and intermediate product consumption. All expenditures are consumer expenditures, that is, they represent estimates of money directly spent by consumers to purchase energy, generally including taxes. 11 figs., 43 tabs.

  2. Medicaid expenditures for children living with smokers

    Directory of Open Access Journals (Sweden)

    Levy Douglas E

    2011-05-01

    Full Text Available Abstract Background Children's exposure to secondhand smoke is associated with increased morbidity. We estimated Medicaid expenditures for children living with smokers compared to those living with no smokers in the United States. Methods Data were overall and service-specific (i.e., inpatient, ambulatory, emergency department, prescription drug, and dental annual Medicaid expenditures for children 0-11 years old from the 2000-2007 Medical Expenditures Panel Surveys. Smokers' presence in households was determined by adult respondents' self reports. There were 25,835 person-years of observation. We used multivariate analyses to adjust for child, parent, and geographic characteristics. Results Children with Medicaid expenditures were nearly twice as likely to live with a smoker as other children in the U.S. population. Adjusted analyses revealed no detectable differences in children's overall Medicaid expenditures by presence of smokers in the household. Medicaid children who lived with smokers on average had $10 (95% CI $3, $18 higher emergency department expenditures per year than those living with no smokers. Conclusions Living with at least one smoker (a proxy for secondhand smoke exposure is unrelated to children's overall short-term Medicaid expenditures, but has a modest impact on emergency department expenditures. Additional research is necessary to understand the relationship between secondhand smoke exposure and long-term health and economic outcomes.

  3. Uganda Sustainable Land Management : Public Expenditure Review

    OpenAIRE

    World Bank

    2008-01-01

    This report summarizes the findings of the Uganda Sustainable Land Management Public Expenditure Review (SLM PER). The SLM PER was undertaken to achieve six main objectives: (i) establish a robust data base on SLM-related public expenditure that can support credible empirical analysis; (ii) develop a sound methodology for conducting SLM PERs, which could guide similar work in the future; (...

  4. State energy price and expenditure report 1989

    International Nuclear Information System (INIS)

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates for the 50 States, the District of Columbia, and the United States. The estimates are provided by energy source (e.g., petroleum, natural gas, coal, and electricity) and by major consuming or economic sector. This report is an update of the State Energy Price and Expenditure Report 1988 published in September 1990. Changes from the last report are summarized in a section of the documentation. Energy price and expenditure estimates are published for the years 1970, 1975, 1980, and 1985 through 1989. Documentation follows the tables and describes how the price estimates are developed, including sources of data, methods of estimation, and conversion factors applied. Consumption estimates used to calculate expenditures, and the documentation for those estimates, are from the State Energy Data Report, Consumption Estimates, 1960--1989 (SEDR), published in May 1991. Expenditures are calculated by multiplying the price estimates by the consumption estimates, adjusted to remove process fuel and intermediate product consumption. All expenditures are consumer expenditures, that is, they represent estimates of money directly spent by consumers to purchase energy, generally including taxes. 11 figs., 43 tabs

  5. What are the Investments Opportunities in the European Capital Regions?

    Directory of Open Access Journals (Sweden)

    Claudia Ionescu

    2013-08-01

    Full Text Available There might be some specific problems for Central East European Countries (CEE/ CEEC to comply with the additionality principle and to avoid excessive deficits at the same time. The main reason is that the budgets of the CEECs still face some risks for revenues and expenditures. Therefore, maintaining structural expenditure at a stable level without allowing for temporary public deficits will be difficult for CEECs. In this paper we will provide several arguments that suggest not targeting the EU structural assistance exclusively at the reduction of regional disparities within CEECs. Doing so would not only face problems due to missing administrations and statistics at the regional level, but might also be at the expense of national economic growth and extend the process of catching-up. Each CEEC has it own specificity that is reflected more or less on capital region. According our analysis we will find what are the opportunities for investments in this Capital regions.

  6. 76 FR 36000 - Rulemaking Petition: Independent Expenditure Reporting

    Science.gov (United States)

    2011-06-21

    ... 11 CFR Part 109 Rulemaking Petition: Independent Expenditure Reporting AGENCY: Federal Election... expenditures by persons other than political committees. The Petition is available for inspection in the... committees], including corporations and labor organizations, which make independent expenditures, in order...

  7. World military expenditures and global cardiovascular mortality.

    Science.gov (United States)

    Brenner, M Harvey

    2016-02-01

    Can we estimate the consequences of world military expenditures for the physical and mental health of nations that produce and purchase armaments? If anxiety and fear are promoting military expenditures, then those sentiments may well reflect poorer mental health and war-related stress as it influences cardiovascular illness rates. Further, extensive military expenditure by a society implies that other societal needs are allocated fewer resources, including nutrition, water and sanitation, health care, and economic development. We use a model focused on military expenditures to predict cardiovascular mortality in world samples of industrialized and developing countries over 2000-2011. The cardiovascular mortality model controls for economic development, smoking, body mass index, systolic blood pressure, and carbon dioxide emissions. Military expenditures as proportion of gross domestic product show significant positive relations to cardiovascular disease mortality in linear multiple regression analyses, using both cross-sectional and pooled cross-sectional time-series approaches. PMID:26675148

  8. Government expenditure and energy intensity in China

    International Nuclear Information System (INIS)

    The recent economic stimulus package of China has raised growing concern about its potential impact on energy demand and efficiency. To what extent does such expansion of government expenditure influence energy intensity? This question has not been well answered by the previous research. Using provincial panel data, this paper provides some evidence of a link between government expenditure and energy intensity in China. The empirical results demonstrate that the expansion of government expenditure since Asian financial crisis has exerted a significant influence on energy intensity. An increase in government expenditure in China leads to an increase in energy intensity. Further analysis compares such relationships in different economic situations. The comparison shows that such positive effect of government expenditure remains significant after the alteration in economic situation. Therefore, the results suggest introducing some measures to consolidate China's existing gains in energy efficiency. The analysis also explains why the downward trend in energy intensity is reversed in China since 2002. (author)

  9. State energy price and expenditure report, 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-08-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the US. The estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1995. Data for all years are available on a CD-ROM and via Internet. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1995, Consumption Estimates (SEDR), published in December 1997. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources.

  10. Government expenditure and energy intensity in China

    Energy Technology Data Exchange (ETDEWEB)

    Yuxiang, Karl [School of Economics and Business Administration, Room 230 of the 11th Dormitory at Campus B, Chongqing University, Chongqing 400044 (China); Chen, Zhongchang [Center for Population, Resources, and Environment Research, Chongqing University, Chongqing 400044 (China)

    2010-02-15

    The recent economic stimulus package of China has raised growing concern about its potential impact on energy demand and efficiency. To what extent does such expansion of government expenditure influence energy intensity? This question has not been well answered by the previous research. Using provincial panel data, this paper provides some evidence of a link between government expenditure and energy intensity in China. The empirical results demonstrate that the expansion of government expenditure since Asian financial crisis has exerted a significant influence on energy intensity. An increase in government expenditure in China leads to an increase in energy intensity. Further analysis compares such relationships in different economic situations. The comparison shows that such positive effect of government expenditure remains significant after the alteration in economic situation. Therefore, the results suggest introducing some measures to consolidate China's existing gains in energy efficiency. The analysis also explains why the downward trend in energy intensity is reversed in China since 2002. (author)

  11. ANALYSIS OF PUBLIC EXPENDITURE IN ROMANIA DURING 1995-2009

    OpenAIRE

    ANA-PETRINA STANCIU

    2011-01-01

    The objective of this paper is to analyze the evolution of Romania’s public expenditure during the period 1995-2009. Expenditure analysis involves tracking their evolution in absolute and relative size, determining the share of public expenditure within the GDP, as well as determining the level of total public expenditure and of each category of expenditure per capita. At the same time there are several econometric models used in optimizing public expenditure for the various economic sectors ...

  12. Relationship between information asymmetry and cost of capital

    OpenAIRE

    Fateme Rahmani; Hosein Kazemi

    2013-01-01

    Shareholders expected return is normally impacted by informational risk and informational asymmetry, on the other hand, creates informational risk. Thus, investors demand greater risk premium in the case of informational asymmetry and in turn corporate expenditures increase. In this study, we determine the relationship between informational asymmetry and capital cost. The study uses information of 109 companies listed in Tehran Securities Exchange over the period of 2005-2010 and the results ...

  13. ROLE OF HUMAN CAPITAL FORMATION IN ECONOMIC DEVELOPMENT

    OpenAIRE

    TĂNASE DIANA

    2013-01-01

    The paper highlights the role of education in the growth of economic competitiveness and efficiency of human capital, in accordance with the quality of education and investments in human resources, in order to enhance labour productiveness. The paper starts by a brief analysis of Romania’s educational system, by comparison with the EU countries, analysing the number of high school students / college students per teacher, the percentage of education expenditure in the GDP, the correlation betw...

  14. IRRIGATION PRODUCTION FUNCTIONS WITH WATER-CAPITAL SUBSTITUTION

    OpenAIRE

    Shani, Uri; Tsur, Yacov; Zemel, Amos; Zilberman, David

    2007-01-01

    The dynamics of biomass growth implies that the yield of irrigated crops depends, in addition to the total amount of water applied, on irrigation scheduling during the growing period. Advanced irrigation technologies relax constraints on irrigation rates and timing, allowing to better adjust irrigation scheduling to the varying needs of the plants along the growing period. Irrigation production functions, then, should include capital (or expenditures on irrigation equipment) in addition to ag...

  15. Financing working capital

    OpenAIRE

    Vasile Popengă; Mirela Popescu

    2002-01-01

    The paper presents some particularities regarding the following aspects: what is working capital; shows alternative net working capital financing strategies, ranging from the most to least risky; also some sources of short-term finance

  16. Triads of capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase

    Within current research on social capital, a gap exists between political history analyses at the macro level and classical, sociological analyses at the meso and micro levels. Following up on  earlier work, the main purpose of this paper is to mediate between the two conflicting stances...... represented by Putnam and Portes. The paper raises the following question: Is it possible to detect the historical driving forces behind the building of both beneficial and harmful social capital? Driving forces are defined as structural determinants, which change human organization at all levels. The...... hypothesis is that three forms of capital have the potential to act as driving forces: social capital, cultural capital and physical capital, the latter operationaliz­ed as buildings. A new concept, triad of capital, is introduced to analyze the interrelationship between these three forms of capital. A triad...

  17. Welfare Enhancing Capital Imports

    OpenAIRE

    Masao Oda; Koji Shimomura; Ryuhei Wakasugi

    2007-01-01

    This paper provides a model to consider the conditions under which an acceptance of foreign capital is welfare enhancing in a multi-commodity multi-factor framework. Contrary to the pessimistic conventional wisdom of capital imports and welfare, we provide a justification for the acceptance of foreign capital and the diversification of industrial structure in developing countries. A sufficient condition for the acceptance of foreign capital to be welfare enhancing is that all domestic factors...

  18. Institutions, Capital, and Growth

    OpenAIRE

    2010-01-01

    The international development community has encouraged investment in physical and human capital as a precursor to economic progress. Recent evidence shows, however, that increases in capital do not always lead to increases in output. We develop a growth model where the allocation and productivity of capital depends on a country's institutions. We find that increases in physical and human capital lead to output growth only in countries with good institutions. In countries with bad institutions...

  19. CONTROLS ON CAPITAL MOVEMENTS

    Directory of Open Access Journals (Sweden)

    Petris Sorina

    2012-12-01

    Full Text Available Until recently, capital mobility was encouraged across national borders, because it was considered that such capital can seek the highest rate of return. However, recent global financial developments have shown that, due to contagion, the mobility of capital flows can cause severe financial imbalances. In the context of globalization, liberalization or maintaining controls on capital flows is a current topic, more debated by economists. This topic is very important, due to the impact of liberalization decision or maintaining controls on capital flows has on the overall macroeconomic framework. The paper analyzes the relationship between capital flows’ control and the income per capita, the degree of central bank independence, democracy country, the foreign exchange regime. Also, it analyzes the effectiveness in time of capital controls, taking account of financial system development and potential risks of instability. Over time, it was observed that a period in which they have imposed restrictions on capital movements was followed by a removal of such restrictions, and vice versa. Cyclic change of capital movements regime corresponds to the cyclic evolution of the global economy. Full capital account liberalization led to the emergence of currency and financial crises, so that the idea of maintaining controls on capital is not rejected by economists. After a full liberalization of capital flows, there is a change in the mentality of an increasing number of economists, who support the maintenance of controls, in a gradual liberalization.

  20. Four Books on Capitalism

    OpenAIRE

    Streeck, W.

    2009-01-01

    Christoph Deutschmann Kapitalistische Dynamik: Eine gesellschaftstheoretische Perspektive. Wiesbaden, VS Verlag, 2008 Geoffrey Ingham Capitalism. Oxford, Polity, 2008 John McMurtry The Cancer Stage of Capitalism. London, Pluto, 1999 Frederic L. Pryor The Future of U.S. Capitalism. New York, Cambridge University Press, 2002

  1. Public education expenditure, growth and welfare

    OpenAIRE

    Angelopoulos, Konstantinos; Malley, Jim; Philippopoulos, Apostolis

    2007-01-01

    In this paper we study the quantitative macroeconomic effects of public education spending in USA for the post-war period. Using comparable measures of human and physical capital, from Jorgenson and Fraumeni (1989, 1992a,b), we calibrate a standard dynamic general equilibrium model where human capital is the engine of long-run endogenous growth and government education spending is justified by externalities in human capital. Our base calibration, based on moderate sized human capital external...

  2. Household energy consumption and expenditures, 1990

    International Nuclear Information System (INIS)

    This report, Household Energy Consumption and Expenditures 1990, is based upon data from the 1990 Residential Energy Consumption Survey (RECS). Focusing on energy end-use consumption and expenditures of households, the 1990 RECS is the eighth in a series conducted since 1978 by the Energy Information Administration (EIA). Over 5,000 households were surveyed, providing information on their housing units, housing characteristics, energy consumption and expenditures, stock of energy-consuming appliances, and energy-related behavior. The information provided represents the characteristics and energy consumption of 94 million households nationwide

  3. Is Capitalism Ethical?

    Directory of Open Access Journals (Sweden)

    Suciu T.

    2009-12-01

    Full Text Available The author of this paper have set off from the question: is the present capitalism ethical? We started with the delimitation and correlation of the concepts of ethics, morals, morality. Further on, we analysed the evolution of capitalism in connection with morals. Based on this research, we came to the conclusion that the capitalist system has undergone through three stages: moral capitalism, amoral capitalism, and immoral capitalism. We concluded by implying that the corporate capitalist society is immoral, that it cannot regulate itself and that the government’s assistance is needed to inoculate the ethics.

  4. INTERPRETING OVERALL INEQUALITY IN CHINA: THE ROLES OF PHYSICAL CAPITAL, HUMAN CAPITAL AND SOCIAL CAPITAL

    OpenAIRE

    Yuheng LI; Westlund, Hans

    2013-01-01

    This paper investigates the relationship between overall inequality in China and the contributions of physical capital, human capital and social capital. The investment in physical capital tends to enlarge overall inequality while human capital helps to reduce the inequality. Human capital appears to be more influential than physical capital in overall inequality reduction in the research period. Social capital (people's social networks) however, does not seem to exert any impact on overall i...

  5. The tradeoff between reliability and operation and maintenance expenditures in fossil steam plants

    International Nuclear Information System (INIS)

    In the past decade, some utilities have undertaken substantial rehabilitation and life maintenance programs at existing fossil steam plants. Other utilities have continued to spend the same amount annually to keep their fossil plants operating. The first method of operating plants appears to be much more expensive than the second. However, the costs cannot be examined independently from the benefits. If the increase in costs translates into higher reliability and longer lived plants, then the investment may be cost effective. Applied Economic Research (AER) recently completed a study which examined the tradeoff between plant reliability and operation and maintenance (O and M) expenditures at fossil steam plants in North America. The study team quantified the relationship between O and M expenditures (including capital additions) and subsequent plant reliability. Several statistical models were developed which can be used to forecast the level of annual O and M expenditures (including capital additions) required to: insure a specified level of plant reliability; produce a specified level of MWh; and increase plant life and improve plant reliability. The models include the effects of different engineering designs, such as firing type, steam pressure (including generation of supercritical boiler), as well as age, vintage and the number of identically designed units at the plant. The paper to be presented at the conference will highlight more interesting results of the study and the usefulness of the results in utility long-range planning

  6. Medical Expenditure Panel Survey Household Component

    Data.gov (United States)

    U.S. Department of Health & Human Services — The Medical Expenditure Panel Survey (MEPS) Household Component (HC) collects data from a sample of families and individuals in selected communities across the...

  7. Medical Expenditure Panel Survey (MEPS) Query Tool

    Data.gov (United States)

    U.S. Department of Health & Human Services — MEPSnet HC Query Tool MEPSnet/Household Component provides easy access to nationally representative statistics of health care use, expenditures, sources of payment,...

  8. Northeast Marine Recreational Fishing Expenditure Survey

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — A series of expenditure surveys have been done both regionally and nationally. This data pertains to the Northeast U.S. states that was collected in 1998....

  9. Modeling Per Capita State Health Expenditure Variat...

    Data.gov (United States)

    U.S. Department of Health & Human Services — Modeling Per Capita State Health Expenditure Variation State-Level Characteristics Matter, published in Volume 3, Issue 4, of the Medicare and Medicaid Research...

  10. Reconciling Medical Expenditure Estimates from the MEPS...

    Data.gov (United States)

    U.S. Department of Health & Human Services — Reconciling Medical Expenditure Estimates from the MEPS and NHEA, 2007, published in Volume 2, Issue 4 of the Medicare and Medicaid Research Review, provides a...

  11. Marine angler expenditures 2006 (NCEI Accession 0145343)

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Angler expenditures for their most recent trip in 2006, by fishing mode - for-hire, private boat, shore. Includes categories such as bait, ice, fuel, lodging,...

  12. Human Capital, Bankruptcy and Capital Structure

    OpenAIRE

    Jonathan B. Berk; Richard Stanton; Josef Zechner

    2007-01-01

    We derive a firm's optimal capital structure and managerial compensation contract when employees are averse to bearing their own human capital risk, while equity holders can diversify this risk away. In the presence of corporate taxes, our model delivers optimal debt levels consistent with those observed in practice. It also makes a number of predictions for the cross-sectional distribution of firm leverage. Consistent with existing empirical evidence, it implies persistent idiosyncratic diff...

  13. Effects of Human Capital and Trade Orientation on Output and Total Factor Productivity in Pakistan

    Directory of Open Access Journals (Sweden)

    Liaqat Ali

    2014-10-01

    Full Text Available The objectives of this paper were to study effects of human capital and international trade orientation on the output and total factor productivity in Pakistan. The output and Total factor productivity have been estimated using Cobb-Douglas Production function linking per worker output, per worker capital as well as labor force including and excluding the human capital stock for the period of more than five decades from 1961 to 2013. The data was taken from various secondary sources including Pakistan Bureau of Statistics, State Bank of Pakistan and from various issues of Economic Surveys published by Ministry of Finance and was analyzed using SPSS. The role of potential determinants of output as well as total factor productivity such as human capital, exports, imports, FDI, Government consumption expenditure, education expenditure, capital labor ratio, GDP per capita, life expectancy and population have also been analyzed. According to the results the prevalence of decreasing return to scale was observed in all specification of the estimated production functions. Results also exhibit that the physical capital and employed labor force as significant determinants of output. Human capital becomes significant determinant of output when it is interacted with physical capital and employed labor force. An increasing trend in the output and productivity over time has been observed except during the 1970s. Human capital alone as well as its interaction with physical capital has been emerged as significant determinants of total factor productivity. The capital-labor ratio has also been found as significant determinant of productivity. The findings of the study advocate for more investment in both physical as well as human capital in order to increase the output and productivity in the long run.

  14. Mexico : Public Expenditure Review, Volume 2. Main Report

    OpenAIRE

    World Bank

    2004-01-01

    This Public Expenditure Review (PER) concentrates on four main issues: the overall fiscal sustainability and rigidities in expenditure, the distribution of benefits of public spending across households with different income levels, the geographic distribution of the spending, and the institutions for budgeting and expenditure management. Thus, it is not a traditional public expenditure rev...

  15. Mexico : Public Expenditure Review, Volume 1. Core Report

    OpenAIRE

    World Bank

    2004-01-01

    This Public Expenditure Review (PER) concentrates on four main issues: the overall fiscal sustainability and rigidities in expenditure, the distribution of benefits of public spending across households with different income levels, the geographic distribution of the spending, and the institutions for budgeting and expenditure management. Thus, it is not a traditional public expenditure rev...

  16. 10 CFR 603.560 - Estimate of project expenditures.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Estimate of project expenditures. 603.560 Section 603.560... Business Evaluation Fixed-Support Or Expenditure-Based Approach § 603.560 Estimate of project expenditures... have confidence in the estimate of the expenditures required to achieve well-defined...

  17. 42 CFR 403.754 - Monitoring expenditure level.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 2 2010-10-01 2010-10-01 false Monitoring expenditure level. 403.754 Section 403..., Conditions of Participation, and Payment § 403.754 Monitoring expenditure level. (a) Tracking expenditures... between the trigger level and Medicare expenditures for a FFY results in a carry forward that...

  18. 11 CFR 9002.12 - Expenditure report period.

    Science.gov (United States)

    2010-01-01

    ... 11 Federal Elections 1 2010-01-01 2010-01-01 false Expenditure report period. 9002.12 Section 9002... ELECTION FINANCING DEFINITIONS § 9002.12 Expenditure report period. Expenditure report period means, with... section, as appropriate. (a) In the case of a major party, the expenditure report period begins...

  19. 26 CFR 1.528-6 - Expenditure test.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Expenditure test. 1.528-6 Section 1.528-6...) INCOME TAXES (CONTINUED) Homeowners Associations § 1.528-6 Expenditure test. (a) In general. An... or more of its expenditures for such taxable year are qualifying expenditures as defined...

  20. Capital Utilization and Capital Accumulation: Theory and Evidence

    OpenAIRE

    Shapiro, Matthew D.

    1986-01-01

    A firm may acquire additional capital input by purchasing new capital or by increasing the utilization of its current capital. The margin between capita accumulation and capital utilization is studied in a model of dynamic factor demand where the firm chooses capital, labor, and their rates of utilization. A direct measure of capital utilization -- the work week of capital -- is incorporated into the theory and estimates. The methodology advocated by Hansen and Singleton (1982) is used to obt...

  1. THE EFFECT OF HUMAN CAPITAL ON SOCIAL CAPITAL AMONG ENTREPRENEURS

    OpenAIRE

    HANNES OTTÓSSON; KIM KLYVER

    2010-01-01

    Using data collected from 714 entrepreneurs in a random sample of 10,000 Danes, this study provides an investigation of the effect of human capital on social capital among entrepreneurs. Previous entrepreneurship research has extensively investigated the separated effect of human capital and social capital on different entrepreneurial outputs. The study takes a step back and investigates how these two capital concepts are related — specifically how human capital influences social capital. In ...

  2. Bolivarian Republic of Venezuela : Investing in Human Capital for Growth, Prosperity, and Poverty Reduction

    OpenAIRE

    World Bank

    2001-01-01

    This report draws on limited, available data to analyze selected economic, and social issues, which include better understanding of poverty, and inequality in relation to real income, and, improving the allocation of social expenditures, while increasing the effectiveness of social programs. The deterioration of social, and human capital should be prevented, by simultaneously promoting its ...

  3. Higher Education: Does Public Expenditure Increase Enrollment?

    OpenAIRE

    Bergh, Andreas; Fink, Günther

    2006-01-01

    This paper evaluates the effects of public education expenditure on student enrollment in tertiary education. We use a cross-section of 132 countries to demonstrate that public expenditure on primary and secondary education positively affects tertiary enrollment rates, while the generosity of tertiary education subsidies themselves do not appear to have any signifcant impact on tertiary enrollment. The results presented are robust to various specifcations, and raise serious concerns regarding...

  4. Corruption and health expenditure in Italy

    OpenAIRE

    Lagravinese, Raffaele; Paradiso, Massimo

    2012-01-01

    The vulnerability of health sector to corruption lies in the complex interaction between the social environment and the institutional setting of health systems. We investigate this interaction in the case of Italy, speci�cally looking at the impact of corruption on health expenditure. In Italy corruption is a social phenomenon. Health sector has been often involved in corruption o¤ences and decentralized health expenditure is considerably out of control. We show that the impact of corrupti...

  5. Catastrophic health expenditure and impoverishment in Mongolia

    OpenAIRE

    Dorjdagva, Javkhlanbayar; Batbaatar, Enkhjargal; Svensson, Mikael; Dorjsuren, Bayarsaikhan; Kauhanen, Jussi

    2016-01-01

    Background The social health insurance coverage is relatively high in Mongolia; however, escalation of out-of-pocket payments for health care, which reached 41 % of the total health expenditure in 2011, is a policy concern. The aim of this study is to analyse the incidence of catastrophic health expenditures and to measure the rate of impoverishment from health care payments under the social health insurance scheme in Mongolia. Methods We used the data from the Household Socio-Economic Survey...

  6. Aggregate expenditure ceilings and allocative flexibility

    OpenAIRE

    Marc Robinson

    2012-01-01

    This article shows how to combine top-down budgeting – in the core sense of the establishment of a hard aggregate expenditure ceiling at the start of the budget preparation process – with flexibility in the allocation of the aggregate ceiling between spending ministries during budget preparation. It argues strongly against determining spending ministry shares of the aggregate expenditure ceiling without any prior opportunity for them to present formal new spending proposals. The keys to recon...

  7. State energy price and expenditure report 1993

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-12-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 states and the District of Columbia and in aggregate for the US. The five economic sectors used in SEPER correspond to those used in SEDR and are residential, commercial, industrial, transportation, and electric utility. Documentation in appendices describe how the price estimates are developed, provide conversion factors for measures used in the energy analysis, and include a glossary. 65 tabs.

  8. 我国农村居民人均消费支出与人均纯收入的实证分析%The empirical analysis of the our country rural per capita consumption expenditure and the per capital annual net income

    Institute of Scientific and Technical Information of China (English)

    徐曙敏

    2012-01-01

    Since always, national attention to the development of the rural economy and the improvement of the quality of farmers'living, pay attention to improve the rural residents" income, promote the consumption structure of rural residents of optimization, and actively effort to develop the rural residents'consumption market, in order to enlarge the domestic effective demand. Article through the use of 1990 -2009 rural residents per capita consump- tion expenditure per capita net income and the empirical data that the development of rural consumer market potential is the key to develop the rural economy, ensure the real income of rural residents stable growth, strengthen the farmers consumer confidence, so as to optimize the rural consumption structure, stimulate the consumption demand of rural residents.%一直以来,国家高度关注农村经济的发展和农民生活质量的改善,注重提高农村居民的收入,促进农村居民消费结构的优化,积极努力开发农村居民的消费市场,以扩大国内的有效需求。文章中通过对1990-2009年农村居民的人均消费支出和人均纯收入数据的实证分析得出:开发农村居民消费市场的潜力关键在于大力发展农村经济,保证农村居民的实际收入持续稳定的增长,增强农民的消费信心,从而优化农村消费结构,刺激农村居民的消费需求。

  9. Investment real estate and financial expenditure: comparability of some standards of UAS 31 “Financial expenditure” and UAS 32 “Investment real estate”

    OpenAIRE

    Міронова, Ольга Іванівна

    2016-01-01

    Theoretical and methodological basics of accounting for financial expenditure, the possibility of their capitalization have been considered, requirements of the UAS 31 “Financial expenditures” concerning the classification of the corporate assets into qualification and non-qualification ones have been analyzed as well as their comparative analysis with the requirements of UAS 32 “Investment real estate” has been carried out.

  10. Characteristics of Fluid Milk Expenditure Patterns in the Northeast Region

    OpenAIRE

    Raunikar, Robert; Huang, Chung-Liang

    1984-01-01

    Expenditure patterns for whole milk and lowfat milk in the Northeast region were examined by applying the Tobit maximum likelihood procedure to the 1977-78 USDA NFCSdata. Results suggest that differing expenditure patterns exist between whole milk and lowfat milk. Household income estimates indicate significant positive effects on expenditure for lowfat milk but negative on expenditure for whole milk. Whole milk expenditure was estimated to be strongly related to the family life cycle stages ...

  11. WHEN IS EXPENDITURE "EXOGENOUS" IN SEPARABLE DEMAND MODELS?

    OpenAIRE

    LaFrance, Jeffrey T.

    1991-01-01

    The separability hypothesis and expenditure as an exogenous variable in a system of conditional demands are analyzed. Expenditure cannot be weakly exogenous in a system of conditional demands specified as functions of the prices of the separable goods and total expenditure on those goods. Furthermore, expenditure is uncorrelated with the residuals of the conditional demand equations only when severe restrictions are satisfied. Therefore, expenditure will seldom be strictly exogenous. Economet...

  12. Capital mobility. An overview

    OpenAIRE

    Arndt, H. W.

    2000-01-01

    The article analyses the problem of international capital mobility which the Asian crisis has highlighted. It points out that the problem of capital mobility ("hot money" panics) has a long history, but globalization, the opening up of national economies and technological advance have increased the risks. The article discusses four policy debated which are being pursued in the large Asian crisis literature: (i) the pros and cons of capital controls; (ii) the choice of exchange rate regime; (i...

  13. Development and Social Capital

    OpenAIRE

    Fafchamps, Marcel

    2005-01-01

    This paper examines social capital and its relation with economic development. We focus on the role that interpersonal relationships play in social exchange, whether through the market or through the provision of public goods. By facilitating search and trust, social capital can increase the efficiency of social exchange where formal institutions are weak. But the benefits from social capital are likely to be unequally distributed. Given these features, documenting empirically the benefits of...

  14. Determinants of Soil Capital

    OpenAIRE

    Ekbom, Anders

    2008-01-01

    This paper combines knowledge from soil science and economics to estimate economic determinants of soil capital. Explaining soil capital facilitates a better understanding of constraints and opportunities for increased agricultural production and reduced land degradation. This study builds on an unusually rich data set that combines data on soil capital (represented by chemical and physical properties) and economic data on household characteristics, labor supply, crop allocation, and conserva...

  15. ACCOUNT INSTRUMENT CAPITAL BORROWED

    Directory of Open Access Journals (Sweden)

    Holt Gheorghe

    2012-03-01

    Full Text Available Setting up business capital is made from different sources and their use coordinates its policy aims, issues that affect the overall efficiency and thus differentiate companies with the same profile of activity and a similar level of capital advanced in the economic cycle. Thus financial structure, the average cost of capital used in the mechanism how the financial management of the company, of particular importance for this.

  16. Human capital and productivity

    OpenAIRE

    Fuente, Ángel de la

    2011-01-01

    This paper surveys the empirical literature on human capital and productivity and summarizes the results of my own work on the subject. On balance, the available evidence suggests that investment in education has a positive, significant and sizable effect on productivity growth. According to my estimates, moreover, the social returns to investment in human capital are higher than those on physical capital in most EU countries and in many regions of Spain.

  17. KVA: Capital Valuation Adjustment

    OpenAIRE

    Andrew Green; Chris Kenyon

    2014-01-01

    Credit (CVA), Debit (DVA) and Funding Valuation Adjustments (FVA) are now familiar valuation adjustments made to the value of a portfolio of derivatives to account for credit risks and funding costs. However, recent changes in the regulatory regime and the increases in regulatory capital requirements has led many banks to include the cost of capital in derivative pricing. This paper formalises the addition of cost of capital by extending the Burgard-Kjaer (2013) semi-replication approach to C...

  18. Intangible Capital Accounting

    OpenAIRE

    Mihalache Arsenie-Samoil

    2010-01-01

    The new economy based on globalization is increasingly important, which shows the decisive role played by intangible capital in achieving the competitive advantage of companies. However, this intangible capital is the hidden side of a company's value, as it represents the company's intangible resources, which cannot be measured by the financial metrics used to measure tangible resources. Given the functional importance of intangible capital, several models several models were proposed by the ...

  19. Human Capital and Retirement

    OpenAIRE

    Alders, P.

    1999-01-01

    textabstractThis paper investigates the relation between human capital and retirement when the age of retirement is endogenous. This relation is examined in a life-cycle earnings model. An employee works full time until retirement. The worker accumulates human capital by training- on-the-job and by learning-by-doing. The human capital of an employee is subject to depreciation when knowledge of technologies becomes obsolete. After a shock in technology, the worker depreciates on his human capi...

  20. Institutions and Venture Capital

    OpenAIRE

    Lerner, Josh; Tåg, Joacim

    2012-01-01

    We survey the literature on venture capital and institutions and present a case study comparing the development of the venture capital market in the US to Sweden. Our literature survey underscores that the legal environment, financial market development, the tax system, labor market regulations, and public spending on research and development correlates with venture capital activities across countries. Our case study suggests these institutional differences led to the later development of an ...

  1. Social Capital Database

    DEFF Research Database (Denmark)

    Paldam, Martin; Svendsen, Gert Tinggaard

    2005-01-01

      This report has two purposes: The first purpose is to present our 4-page question­naire, which measures social capital. It is close to the main definitions of social capital and contains the most successful measures from the literature. Also it is easy to apply as discussed. The second purpose ...... to present the social capital database we have collected for 21 countries using the question­naire. We do this by comparing the level of social capital in the countries covered. That is, the report compares the marginals from the 21 surveys....

  2. Demographic and Expenditure Profiles of Zambian Households: Evidence from the June 1991 Zambian Household Expenditure and Income Survey

    OpenAIRE

    Gary Stampley

    1993-01-01

    The HEIS's linkage of household-level demographic and expenditure data for Zambia provides the foundation for an analysis of household expenditure patterns. For this report, total household expenditure was composed of two broad expenditure classifications, food and nonfood. An analytical emphasis was placed on developing the food expenditure patterns of household groups identified by various socioeconomic characteristics. In general, within the various household classifications, there were th...

  3. Environment-related expenditures in 2013

    International Nuclear Information System (INIS)

    In 2013, households, private corporations and general government spent Euro 47.2 billion for environmental protection, an increase of 1.8% over 2012. For the 2000-2013 period on the whole, this expenditure has been rising faster than the gross domestic product (GDP): +4% on an annual average for the environmental protection expenditure compared with +2.8% for the GDP. In connection with the growing environmental concerns of society, public policy contributed to this steady increase through economic incentives ('bonus/malus' system, for instance) and regulation. In particular, the latter led to a technical improvement of processes (selective collection of waste, bringing up to standard of water treatment plants) which participated in the growth of expenditure. Wastewater and waste managements are the two main environmental protection expenditure domains. Furthermore, they are connected with topics related to resource management: drinking water supply and materials recovery. However, the expenditure for the materials recovery sector is decreasing in 2013, due to declines in raw materials prices. Expenditure for renewable energies - another topic related to environment - is considerably growing in 2013. Electricity production notably from water power is rising sharply, as a result of a particularly rainy spring. Nevertheless, the growth of environmental expenditures does not impact the corresponding employment in a systematic way. Thus, even if value added of the environmental goods and services sector (EGSS) increased by 1.8% in 2013, employment decreased by 0.3%. And the labor market in the green economy has been in decay since 2011, at a practically similar rate as for the economy as a whole

  4. Georgia - Public Expenditure Review : Managing Expenditure Pressures for Sustainability and Growth

    OpenAIRE

    World Bank

    2012-01-01

    Economic growth has rebounded strongly in Georgia during 2010-12 and commendable fiscal consolidation has been implemented, although considerable medium-term macro-fiscal challenges remain. This public expenditure review (PER) considers possible sources of expenditure pressure that may affect the fiscal consolidation program and suggests options to manage them. This PER presents a number o...

  5. 76 FR 56973 - Elections Regarding Start-Up Expenditures, Corporation Organizational Expenditures, and...

    Science.gov (United States)

    2011-09-15

    ... Wednesday, August 17, 2011 (76 FR 50887) relating to elections to deduct start-up expenditures... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 RIN 1545-BE77 Elections Regarding Start-Up Expenditures,...

  6. Allocating capital systemwide. Who gets how much and why.

    Science.gov (United States)

    Albertina, R M; Bakewell, T F

    1989-05-01

    The maturing of multi-institutional healthcare systems has created a need for systemwide approaches to managing investment in capital expenditures. Historically, hospitals have allocated capital using traditional capital budgeting techniques, including discounted cash flow, net present value, and internal rate of return methodologies. Now systems can use a multifactored model to allocate capital among member hospitals. This approach uses historical and projected financial and statistical information to quantify the risks member hospitals face. At the system level, capital allocation decisions should start with the strategic and financial planning processes. Catholic systems face an additional caveat: The system's mission statement drives the planning processes. Conceptually, the capital allocation plan is an attempt to value each hospital as a going, or viable, concern. From this perspective, value is understood as a function of expected return, the certainty of the return, and the return offered by similar investments in other hospital markets. Despite the many determinants of business and financial risk, much of the variance in asset market value can be explained through five assessment criteria: market demographics, position within the market, historical and projected financial performance, historical utilization, and third-party reimbursement mix. PMID:10303454

  7. Capital-Skill Complementarity: Does capital disaggregation matter?

    OpenAIRE

    Correa, Juan; Lorca, Miguel; Parro, Francisco

    2014-01-01

    Using Chilean manufacturing plants data, we�find: (1) the elasticity of substitution between capital and skilled labor is lower than the elasticity of substitution between capital and unskilled labor, and (2) the higher the technological component of the capital stock the larger the size of complementarity between capital and skilled labor. Our�findings show that capital, as an aggregate input, may under(over) state the complementarity between labor and the type of capital these workers actua...

  8. Capital Flows to Brazil: The Endogeneity of Capital Controls

    OpenAIRE

    Eliane A. Cardoso; Ilan Goldfajn

    1998-01-01

    This paper creates an index of capital controls to analyze the determinants of capital flows to Brazil, accounting for the endogeneity of capital controls by considering a government that sets controls in response to capital flows. It finds that the government reacts strongly to capital flows by increasing controls on inflows during booms and relaxing them in moments of distress. The paper estimates a vector autoregression with capital flows, controls, and interest differentials. It shows tha...

  9. Linguistic Capital Pays Dividends

    Science.gov (United States)

    Linse, Caroline

    2013-01-01

    Some 37 million U.S. residents speak Spanish at home and more than 55% of them say they also speak English. That creates what is called linguistic capital. Although linguistic capital is difficult to quantify, it is enormously valuable and is determined by an individual's language competency, and is too frequently wasted instead of being…

  10. Human Capital and Retirement

    NARCIS (Netherlands)

    P. Alders

    1999-01-01

    textabstractThis paper investigates the relation between human capital and retirement when the age of retirement is endogenous. This relation is examined in a life-cycle earnings model. An employee works full time until retirement. The worker accumulates human capital by training- on-the-job and by

  11. Social Capital in Asia

    DEFF Research Database (Denmark)

    Li, Peter Ping; Redding, Gordon

    2014-01-01

    usually larger, transactions backed by law. For economic development, the systemic form becomes crucial but needs to be compatible with relational norms. The dimensions of social capital are often dual in nature. This article employs a theory that accepts this and analyses the phenomena as yin......This article provides an overview of social capital in Asia. Social capital is trust and appears in two main forms: relational, based on societal norms, and systemic, based on societal institutions. The relational encourages personalistic transactions; and systemic trust, supports more formal, and......–yang balancing, seeing trust as a culturally determined enabler of social cooperation. The evolutions of trustworthiness in Japan, China, and the Philippines are analysed. This article contributes to the literature on varieties of capitalism and business systems as well as that on social capital. It raises the...

  12. Handbook of Social Capital

    DEFF Research Database (Denmark)

    The Handbook of Social Capital balances the ‘troika' of sociology, political science and economics by offering important contributions to the study of bonding and bridging social capital networks. This inter-disciplinary Handbook intends to serve as a bridge for students and scholars within all t...... social sciences. The contributors explore the different scientific approaches that are all needed if international research is to embrace both the bright and the more shadowy aspects of social capital.......The Handbook of Social Capital balances the ‘troika' of sociology, political science and economics by offering important contributions to the study of bonding and bridging social capital networks. This inter-disciplinary Handbook intends to serve as a bridge for students and scholars within all the...

  13. Household energy consumption and expenditures 1993

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-10-05

    This presents information about household end-use consumption of energy and expenditures for that energy. These data were collected in the 1993 Residential Energy Consumption Survey; more than 7,000 households were surveyed for information on their housing units, energy consumption and expenditures, stock of energy-consuming appliances, and energy-related behavior. The information represents all households nationwide (97 million). Key findings: National residential energy consumption was 10.0 quadrillion Btu in 1993, a 9% increase over 1990. Weather has a significant effect on energy consumption. Consumption of electricity for appliances is increasing. Houses that use electricity for space heating have lower overall energy expenditures than households that heat with other fuels. RECS collected data for the 4 most populous states: CA, FL, NY, TX.

  14. Determinants of Catastrophic Health Expenditure in Iran

    Directory of Open Access Journals (Sweden)

    M Ramezanian

    2013-01-01

    Full Text Available Background: This study will provide detailed specification of those variables and determinants of unpredictable health expenditure in Iran, and the requirements to reduce extensive effects of the factors affecting households’ payments for health and other goods and services inappropriately.Method: This study aims to identify measures of fair financing of health services and determinants of fair financing contribution, regarding the required share of households that prevents their catastrophic payments. In this regard, analysis of shares of households’ expenditures on main groups of goods and services in urban and rural areas and in groups of deciles in the statistics from households’ expenditure surveys was applied.Results: The growth of spending in nominal values within the years 2002-2008 was considerably high and the rate for out-of-pocket payments is nearly the same or greater than the rate for total health expenditure. In 2008, urban and rural households in average pay 6.4% and 6.35% of their total expenditure on health services. Finally three categories of determinants of unfair and catastrophic payments by households were recognized in terms of households’ socio-economic status, equality/inequality conditions of the distribution of risk of financing, and economic aspects of health expenditure distribution.Conclusion: While extending the total share of government and prepayment sources of financing health services are considered as the simplest policy for limiting out-of-pocket payments, indicators and policies introduced in this study could also be considered important and useful for the development of health sector and easing access to health services, irrespective of health financing fairness

  15. Energy Expenditure During Extravehicular Activity Through Apollo

    Science.gov (United States)

    Paul, Heather L.

    2012-01-01

    Monitoring crew health during manned space missions has always been an important factor to ensure that the astronauts can complete the missions successfully and within safe physiological limits. The necessity of real-time metabolic rate monitoring during extravehicular activities (EVAs) came into question during the Gemini missions, when the energy expenditure required to complete EVA tasks exceeded the life support capabilities for cooling and humidity control and, as a result, crew members ended the EVAs fatigued and overworked. This paper discusses the importance of real-time monitoring of metabolic rate during EVAs, and provides a historical look at energy expenditure during EVAs through the Apollo Program.

  16. MARKETING EXPENDITURES IN THE INDONESIAN CONSTRUCTION INDUSTRY

    OpenAIRE

    Krishna Mochtar

    2004-01-01

    In the 1960s, a ânewâ marketing concept known as "four Ps marketing mix" appeared and shifted the focus from the product to the customer. The objective of the new concept was not only profit, and the means of achieving the objective expanded to include the entire âmarketing mixâ: product, price, promotion, and place (channels and distribution). Expenditures of marketing in a company should be explored from these mixes, because each mix would have an impact on the total marketing expenditures....

  17. Poverty-reducing or Poverty-inducing? A CGE-based Analysis of Foreign Capital Inflows in Pakistan

    OpenAIRE

    Siddiqui, Rizwana; A.R. Kemal

    2006-01-01

    Foreign capital inflows (FKI) help an economy by financing the imbalance between income and expenditure. However, their impact on poverty in the recipient economy is a controversial issue. In this study, we examine the impact on poverty in two different scenarios : (1) labour is homogeneous; (2) labour is heterogeneous. The Computable General Equilibrium model for Pakistan is used to conduct simulations in order to assess the impact of an increase in foreign capital on poverty both in the pre...

  18. SEPERATION OF COST AND EXPENDITURES IN ORCHARDS AND THE ADVANTAGES OF COST ACCOUNTING

    Directory of Open Access Journals (Sweden)

    Ali Deran

    2013-07-01

    Full Text Available Strategic importance of agriculture sector has been increased by the recent developments in economics as well as changes in climate and accordingly the capital flow to the sector has increased. Today, it is well known that owners of large capitals have been invested on orchards. In the world and Turkey, international companies run many orchards in different countries at the same time. Many of these companies’ shares operated in stock exchange markets. In this context of these developments, the importance of agriculture accounting for agriculture and especially cost agriculture for agriculture has been increased. Furthermore, this importance is expected to increase in accordance with the process of world markets and Turkey’s accession process to European Union. In this study, cost and expenditure which are the main concepts of agricultural cost accounting and their advantages will be discussed.

  19. The capital budgeting manual

    OpenAIRE

    Segelod, Esbjörn

    1995-01-01

    There has been very many postal surveys of capital budgeting practice, but almost no studies of the written routines that fix the practice of those groups that use a capital budgeting manual. This article fills this vacuum by describing and analysing the capital budgeting manuals used by major Swedish groups, most of whom are multinationals. Changes in the manuals during the last 30 years are studied using hvo earlier Swedish studies of manuals from the 60’s and 70’s. Comparisons are made wit...

  20. Capital Humano y Productividad

    OpenAIRE

    Ángel de la Fuente

    2015-01-01

    Este trabajo contiene un breve panorama de la literatura empírica sobre capital humano y productividad y resume los resultados de mi propio trabajo sobre el tema. En conjunto, la evidencia disponible sugiere que la inversión en educación tiene un efecto positivo, significativo y cuantitativamente importante sobre el crecimiento de la productividad. De acuerdo con mis estimaciones, además, la rentabilidad social de la inversión en capital humano es mayor que la del capital físico en la mayor p...

  1. PREDICTING ADVERTISING EXPENDITURES USING INTENTION SURVEYS

    NARCIS (Netherlands)

    ALSEM, KJ; LEEFLANG, PSH

    1994-01-01

    In this article we study the use of intention surveys to predict the effects of a possible entrant. The case under investigation deals with the introduction of private broadcasting in the Netherlands. Several predictions of the advertising expenditures in various media are given which depend on a nu

  2. State Expenditure on Science and Technology 1999

    OpenAIRE

    2000-01-01

    This publication is a comprehensive report on the government allocations and expenditure and performance of S&T and R&D in the public sector. The report is published annually. The science and technology activities covered include research and development, training, education and information; technology transfer and technical services (including information and advice)

  3. Nigeria - Lagos Rolling First Public Expenditure Review

    OpenAIRE

    World Bank

    2010-01-01

    This review provides an analysis of the fiscal performance and sustainability of the State of Lagos, performance of the budgeting system and of the public procurement system. It is the first in a planned rolling Public Expenditure Reviews (PERs) for Lagos state. The analysis finds that the state's fiscal policy is broadly sound and that its fiscal program is sustainable in the medium term,...

  4. Household energy expenditures, 1982–2005

    OpenAIRE

    David B. Cashin; Leslie McGranahan

    2006-01-01

    While energy's share of total expenditures has risen in recent years, it remains below the shares seen in the early and mid-1980s. Furthermore, the impact of the price increases on a household differs, based on the household's specific energy consumption patterns.

  5. The Effect of Recessions on Gambling Expenditures

    NARCIS (Netherlands)

    C. Horváth (Csilla); R. Paap (Richard)

    2012-01-01

    textabstractThis article examines the influence of the business cycle on expenditures of three major types of legalized gambling activities: Casino gambling, lottery, and pari-mutuel wagering. Empirical results are obtained using monthly aggregated US per capita consumption time series for the perio

  6. A Characterization of Collective Individual Expenditure Functions

    OpenAIRE

    Martina Menon; Elisa Pagani; Federico Perali

    2012-01-01

    We examine the properties ensuring that individual expenditure functions, derived within the context of the collective household model, are legitimate individual cost functions. Our curvature results are important for the characterization of collective demand functions as well and for the measurement of inequality within the household.

  7. High Throughput Danio Rerio Energy Expenditure Assay.

    Science.gov (United States)

    Williams, Savannah Y; Renquist, Benjamin J

    2016-01-01

    Zebrafish are an important model organism with inherent advantages that have the potential to make zebrafish a widely applied model for the study of energy homeostasis and obesity. The small size of zebrafish allows for assays on embryos to be conducted in a 96- or 384-well plate format, Morpholino and CRISPR based technologies promote ease of genetic manipulation, and drug treatment by bath application is viable. Moreover, zebrafish are ideal for forward genetic screens allowing for novel gene discovery. Given the relative novelty of zebrafish as a model for obesity, it is necessary to develop tools that fully exploit these benefits. Herein, we describe a method to measure energy expenditure in thousands of embryonic zebrafish simultaneously. We have developed a whole animal microplate platform in which we use 96-well plates to isolate individual fish and we assess cumulative NADH2 production using the commercially available cell culture viability reagent alamarBlue. In poikilotherms the relationship between NADH2 production and energy expenditure is tightly linked. This energy expenditure assay creates the potential to rapidly screen pharmacological or genetic manipulations that directly alter energy expenditure or alter the response to an applied drug (e.g. insulin sensitizers). PMID:26863590

  8. Lithuania - Social sectors public expenditure review

    OpenAIRE

    World Bank, (WB)

    2009-01-01

    This report aims to provide technical assistance to the Government of Lithuania in preparation for the June 2009 budget amendment and beyond. This Public Expenditure Review (PER) includes a number of recommendations on short run fiscal consolidation (mainly through spending cuts) as well as efficiency-enhancing reforms that could eventually generate fiscal savings and reduce the fiscal def...

  9. Study on Tax Expenditures in Pakistan

    OpenAIRE

    Ahmed, Ather Maqsood; Ather, Robina

    2014-01-01

    The problems of high fiscal deficit, high current account deficit, and high inflation faced by the government of Pakistan are linked to Pakistan's weak tax revenue effort. There are concerns that revenue in Pakistan is raised in an inefficient way by favoring certain sectors and economic activities over others. The assessment of tax expenditures is often complicated because reporting and...

  10. Modeling Imports in a Keynesian Expenditure Model

    Science.gov (United States)

    Findlay, David W.

    2010-01-01

    The author discusses several issues that instructors of introductory macroeconomics courses should consider when introducing imports in the Keynesian expenditure model. The analysis suggests that the specification of the import function should partially, if not completely, be the result of a simple discussion about the spending and import…

  11. Annual Survey of Irish Economy Expenditures 1996

    OpenAIRE

    1998-01-01

    The annual survey of Irish economy expenditures measures the impact of manufacturing and internationally traded services activities in the Irish economy. The impact is manifest in four key areas : wage and salary costs, Irish raw material purchases, Irish services usage and profits retained in the economy

  12. Annual Survey of Irish Economy Expenditures 1997

    OpenAIRE

    1999-01-01

    The annual survey of Irish economy expenditures measures the impact of manufacturing and internationally traded services activities in the Irish economy. The impact is manifest in four key areas : wage and salary costs, Irish raw material purchases, Irish services usage and profits retained in the economy

  13. Annual Survey of Irish Economy Expenditures 1998

    OpenAIRE

    2000-01-01

    The annual survey of Irish economy expenditures measures the impact of manufacturing and internationally traded services activities in the Irish economy. The impact is manifest in four key areas : wage and salary costs, Irish raw material purchases, Irish services usage and profits retained in the economy

  14. Can Education Expenditures Reduce Income Inequality?

    Science.gov (United States)

    Sylwester, Kevin

    2002-01-01

    Examines whether devoting more resources to education can positively affect the distribution of income within a country. Finds that public-education expenditures appear to be associated with a subsequent decrease in the level of income inequality. Finding is robust to the inclusion of various control variables and appears to be larger in…

  15. Health Expenditures, Services and Outcomes in Africa

    OpenAIRE

    David H. Peters; Kandola, Kami; Elemendorf, A. Edward; Chellaraj, Gnanaraj

    2010-01-01

    In the past thirty years, Sub-Saharan African countries have made remarkable improvements in health conditions and status. However, they still suffer from some of the worst health problems in the world, and AIDS is making conditions much worse than they will be otherwise. This study, health expenditures, services, and outcomes in Africa considers 48 countries of Sub-Saharan Africa and outl...

  16. Social welfare expenditures, fiscal year 1976.

    Science.gov (United States)

    Skolnik, A M; Dales, S R

    1977-01-01

    In 1976, for the second fiscal year in a row, public expenditures for social welfare purposes expanded at an abnormally high rate. Even after adjusting the 16-percent increase in aggregate expenditures for price and population changes, the 8-percent real growth rate proves to be the highest since 1971. The $45 billion rise in social welfare expenditures to a total of $331 billion reflects the effects of both recession and inflation. Benefits for the needy and the unemployed continued to expand at the same time that higher prices triggered cost-of-living adjustments in cash benefit programs and helped swell the cost of furnishing other social welfare services. A further reflection of this growth is the rise in the proportion of the Nation's gross national product devoted to social welfare expenditures from 19.7 percent in 1975 to 20.6 percent in 1976. The latter proportion becomes 27.5 percent when private social welfare spending is included. PMID:403620

  17. Return on capital of Brazilian electricity distributors: A comparative analysis

    International Nuclear Information System (INIS)

    This paper analyzes the electricity distribution segment in Brazil from 1998 to 2005-after the conclusion of privatization process-trying to assess whether the return on capital invested was in line with the risk required in the segment. It concludes that the return on equity in Brazil was systematically negative until 2003. Only in 2005 did the distribution segment really begin to recover, showing profitability consistent with the estimated cost of equity. Comparisons with Argentine, Chilean and American companies reveal that firms in the latter two countries, generally managed to reward shareholders according to the opportunity cost of capital. Estimates are that to sustain annual growth of roughly 3.7% for the next decade, the entire electricity sector will demand US$ 7 billion in capital expenditures a year for the next decade, 67% for generation, 16% for transmission and 17% for distribution. In order to stimulate private capital investment, it is fundamental for the regulator, in the tariff revision processes, to consistently assure a rate of return on capital in line with the segment's real opportunity cost and therefore maintain the health of all the three segments without the burden of subsidies

  18. Total energy expenditure and body composition in early infancy.

    OpenAIRE

    Wells, J. C.; Cole, T.J.; Davies, P S

    1996-01-01

    In adults greater energy expenditure, primarily on physical activity, is associated with greater leanness. Such an association has proved more difficult to demonstrate in infants, partly due to the difficulty of measuring fatness and free living energy expenditure in this age group. Stable isotope techniques now make such investigations more viable. OBJECTIVE: The relationship between body composition and energy expenditure was investigated in 12 week infants. METHODS: Total energy expenditur...

  19. Aging Risk and Health Care Expenditure in Korea

    OpenAIRE

    Sang-Ho Nam; Byongho Tchoe

    2010-01-01

    This paper analyzes the impact of population aging on health care expenditures in Korea. Examination of the age-expenditure profile reveals that health care resources are allocated more for the older cohort of population over time, suggesting significant growth of health care expenditures due to population aging. We contend, however, that population aging is considered as a parameter rather than an independent variable to explain rising health care expenditures. This paper shows that populati...

  20. Resting energy expenditure is not influenced by classical music

    OpenAIRE

    Slinde Frode; Helgegren Hannah; Carlsson Ebba

    2005-01-01

    Abstract Obesity shows an increasing prevalence worldwide and a decrease in energy expenditure has been suggested to be one of the risk factors for developing obesity. An increase in resting energy expenditure would have a great impact on total energy expenditure. This study shows that classical music do not influence resting energy expenditure compared to complete silence. Further studies should be performed including other genres of music and other types of stress-inductors than music.

  1. Resting energy expenditure is not influenced by classical music

    Directory of Open Access Journals (Sweden)

    Slinde Frode

    2005-08-01

    Full Text Available Abstract Obesity shows an increasing prevalence worldwide and a decrease in energy expenditure has been suggested to be one of the risk factors for developing obesity. An increase in resting energy expenditure would have a great impact on total energy expenditure. This study shows that classical music do not influence resting energy expenditure compared to complete silence. Further studies should be performed including other genres of music and other types of stress-inductors than music.

  2. On capital gain taxation

    OpenAIRE

    Anton Miglo

    2008-01-01

    This note provides an explanation for why tax rates on capital gains are usually lower than ordinary income tax rates based on manager's agency problem related to "empire-building" or the underinvestment problem.

  3. Capital Projects Application (CPA)

    Data.gov (United States)

    General Services Administration — Capital Projects application (CPA) provides users with the ability to maintain project related financial data for Budget Activity (BA) 51, 55, 64, 01, 02, 03, 04....

  4. Cultural Capital Today

    DEFF Research Database (Denmark)

    Prieur, Annick; Skjøtt-Larsen, Jakob; Rosenlund, Lennart

    2008-01-01

    Based on Danish survey data subjected to correspondence analysis, this article aims at carrying out a critical assessment of Pierre Bourdieu's theory of social differentiation in advanced societies as a multi-dimensional phenomenon. As his theory goes, capital volume (economic + cultural capital......) and capital composition (the relative weight of the two) are the main dimensions of social differentiation, which structure the space of social positions as well as the space of lifestyles. The central discussion of the article concerns the character of cultural capital, and the role it plays in the formation...... of social divisions. This leads to a discussion of four core questions: first, are there signs of a strong individualism and, correspondingly, a weak social structuring of lifestyles? The study does not find support for this view. Second, does classical highbrow culture play a central role as a marker...

  5. HUMAN CAPITAL INVESTMENT

    Directory of Open Access Journals (Sweden)

    Ph. D. Student Ioana - Julieta Josan

    2012-05-01

    Full Text Available Once with the development of the human capital theory, the education received an economic value. Leading theorists and specialists in the field have shown that the remarkable economic effects of the investments in education influence the chances of acquiring a job and earnings, demonstrating how the theory justifies such an investment. At the hand, the allocation of resources in human capital brings performance and benefits to companies investing in their employees. Also, the investment in human capital is strategic for any country that seeks to create a knowledge economy. Considering the above arguments, the aim of this paper is to highlight the characteristics of investment in human capital, the types of investment, the factors of education investment and the entities interested in investing and their benefits.

  6. Public Expenditures, Budgetary Sustainability and the Assessment of Management of Public Expenditures in Kosovo

    Directory of Open Access Journals (Sweden)

    Behxhet Brajshori

    2009-05-01

    Full Text Available Public expenditures are public outlays which competent state organs realize for the purpose of fulfilling obligations of general public interest. They are manifested in different forms and in different social, economic and political areas. Public expenditures produce direct and indirect effects in production and influence consumption and prices. Economic structure and conjectural courses of one country have an impact on the highness of the public expenditures. Economic and social subsidies present the main instruments for achieving economic and social effects through the policy of public expenditures, whilst in conjectural economies; the effect of public expenditures is large and is realized through the mechanism of multiplicators which are used when the economy is in the state of economic stagnation and recession. After the war, Kosovo built a new fiscal system according to the best international practices. The tax system consists of some taxes, it has a wide spread of tax charges and applies relatively low tax rates. Both budgetary revenues and budgetary consumption have marked certain variations in relation to GDP. Currently, The Kosovo Consolidated Budget (KCB is completely fulfilled by domestic revenues. It is considered that, even if the budgetary consumption increases up to 30-34% of GDP, this raise will not endanger budgetary sustainability of the country. According to the World Bank assessment (PEFA document- 2006 on the Effectiveness of Management of Public Expenditures in Kosovo, based on the performance of main indicators of management of public finances, the effectiveness of management of public expenditures in Kosovo is relatively satisfactory. According to the draft-document of the World Bank and the Government of Kosovo (PEFA-2008, the quality of management of public expenditures in 2008 has been profoundly improved.

  7. Thin Capitalization Rules and Multinational Firm Capital Structure

    OpenAIRE

    Blouin, J.; Huizinga, H.P.; Laeven, L.; Nicodeme, G.

    2014-01-01

    This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using confidential data on the (internal) leverage of foreign affiliates of US multinationals, we find that thin capitalization rules affect multinational firm capital structure in a significant way. Specifically, restri...

  8. Capital mobility, tax competition, and lobbying for redistributive capital taxation

    OpenAIRE

    Lorz, Jens Oliver

    1996-01-01

    This paper analyzes the impact of international capital mobility on redistributive capital taxation and on lobbying activities by interest groups. It employs a model where different capital endowments lead to a conflict between households concerning their most preferred capital tax rate. Three main results are derived: First, redistributive source based capital taxes or subsidies decline as international tax competition intensifies. Second, lobbying activities of certain interest groups may e...

  9. Public Expenditure Review for Peru : Spending for Results

    OpenAIRE

    World Bank

    2012-01-01

    The purpose of this Public Expenditure Review (PER) is to take stock of Peru's public expenditure since the last PER and identify the main challenges. The key underlying questions addressed are: (i) How did Peru's public expenditure and revenues develop over the past decade? (ii) How have decentralization and the shift towards results-based budgeting impacted this development across levels...

  10. 42 CFR 403.750 - Estimate of expenditures and adjustments.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 2 2010-10-01 2010-10-01 false Estimate of expenditures and adjustments. 403.750...-Benefits, Conditions of Participation, and Payment § 403.750 Estimate of expenditures and adjustments. (a) Estimates. CMS estimates the level of expenditures for services provided under this subpart before the...

  11. 26 CFR 1.194-1 - Amortization of reforestation expenditures.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Amortization of reforestation expenditures. 1....194-1 Amortization of reforestation expenditures. (a) In general. Section 194 allows a taxpayer to elect to amortize over an 84-month period, up to $10,000 of reforestation expenditures (as defined...

  12. Household Expenditures on Private Tutoring: Emerging Evidence from Malaysia

    Science.gov (United States)

    Kenayathulla, Husaina Banu

    2013-01-01

    Private tutoring has been a burgeoning phenomenon in Malaysia for decades. This study examines the determinants of private tutoring expenditures in Malaysia using the 2004/2005 Household Expenditures Survey and applies hurdle regression models to the data. The results indicate that total household expenditures, household head's level of…

  13. 10 CFR 603.1260 - Expenditure-based award.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Expenditure-based award. 603.1260 Section 603.1260 Energy... Used in this Part § 603.1260 Expenditure-based award. A Federal Government assistance award for which... and cooperative agreements are expenditure-based awards....

  14. 32 CFR 37.1285 - Expenditure-based award.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 1 2010-07-01 2010-07-01 false Expenditure-based award. 37.1285 Section 37.1285... REGULATIONS TECHNOLOGY INVESTMENT AGREEMENTS Definitions of Terms Used in This Part § 37.1285 Expenditure... expenditure-based awards....

  15. 25 CFR 117.14 - Miscellaneous expenditure of surplus funds.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Miscellaneous expenditure of surplus funds. 117.14... AND EXPENDITURE OF INDIVIDUAL FUNDS OF MEMBERS OF THE OSAGE TRIBE OF INDIANS WHO DO NOT HAVE CERTIFICATES OF COMPETENCY § 117.14 Miscellaneous expenditure of surplus funds. Upon application by an...

  16. Cultural capital and demand

    OpenAIRE

    Victoria Ateca - Amestoy

    2007-01-01

    In this paper we develop a theoretical model that investigates the demand for cultural goods under the assumption of cultural capital and rational addiction. We also consider the effect of a policy intervention in order to raise the initial stock of cultural capital of a given individual, both on individual demand and on supply. Finally, we discuss on the effectiveness of such policies by translating our model to a dynamic framework.

  17. Religion, Science and Capitalisms

    OpenAIRE

    Rehbein, Boike

    2014-01-01

    This paper enquires into the relation between capitalism, religion and the philosophy of science. We would tend to suppose that there are only superficial and accidental links between them. A closer analysis reveals, however, that the epistemology of contemporary science is still based on a certain interpretation of Christianity and linked to a particular type of capitalism. Science developed after Galileo and Descartes aims at universal truth but was founded on the notion of the Christian ...

  18. Embodied human capital unemployment

    OpenAIRE

    Kumaraku, Klajdi; Naqvi, Nadeem; Rexhepi, Sara

    2011-01-01

    Adam Smith (1776) devoted the first three chapters to the division of labor in his Inquiry into the Nature and Causes of the Wealth of Nations. This process, carried far enough, eventually results in a divergence between the distributions of supplies and demands of such horizontally-differentiated distinct types of human capital embodied in different persons, leading to the emergence of Embodied Human Capital Unemployment. We illustrate the relevance of this new concept of unemployment to the...

  19. Social Capital and Conflict

    OpenAIRE

    Alia Aghajanian

    2012-01-01

    Conflict is either caused by, or brings about, drastic changes in the underlying social relationships between members of a community involved in the conflict. The conflict literature has taken note, and a growing number of studies attempt to determine the relationship between conflict and social capital. Unfortunately, there are many problems that have plagued the social capital literature, and conflict studies have failed to address these. This paper aims to provide a critical analysis of th...

  20. Empreendedorismo na capital amazonense

    OpenAIRE

    Filho, Aécio Flávio Ferreira da Silva

    2010-01-01

    This research was elaborated to evaluate entrepreneurship in the Capital of the Amazon State, Brazil. Its relevance is due to the non-existent literature in the subject of entrepreneurship, in the Northern Region of Brazil. The available Brazilian literary archive comprehends only the main cities located in the Southern and Northeastern Regions of the country. There is no research in the Northern Region – where the Amazon State and its Capital, Manaus, are found – and thus lies the reason for...

  1. The global capital leviathan

    OpenAIRE

    Robinson, William I.

    2011-01-01

    The money mandarins of global capitalism and their political agents are utilizing the global crisis to impose brutal austerity and attempting to dismantle what is left of welfare systems and social states in Europe, North America and elsewhere. The budgetary and fiscal crises that supposedly justify spending cuts and austerity are contrived. They are a consequence of the unwillingness or inability of states to challenge capital and their disposition to transfer the burden of the crisis to wor...

  2. Entrepreneurship and heterogeneous capital

    OpenAIRE

    Foss, Nicolai J.; Klein, Peter G.

    2008-01-01

    Entrepreneurship is ultimately about the arrangement of resources into productive activi-ties. Much of the entrepreneurship literature, however, has focused on the demand side of the market. While resource heterogeneity is a feature of many theories of the firm, such theories are not built on a systematic theory of capital. We show how the approach to capital developed by the Austrian school of economics provides a natural bridge between theory of entrepreneurship and the theory of the firm. ...

  3. Venture capital and internationalization

    OpenAIRE

    Schertler, Andrea; Tykvová, Tereza

    2009-01-01

    Cross-border investments represent a substantial share of venture capital activities. We use a new and comprehensive dataset on worldwide investments to analyze the internationalization of venture capital financing. Our results from the perspectives of (i) venture capitalists, (ii) portfolio companies, (iii) portfolio companies' countries and (iv) pairs of venture capitalists' and portfolio companies' countries suggest that some factors, such as viable stock markets, boost investments by dome...

  4. Measuring Natural Capital

    OpenAIRE

    Dariana Tani

    2014-01-01

    The purpose of this paper is to highlight the importance of establishing a system of natural capital accounting. Natural capital is integral to the economy and yet it is routinely taken for granted because the goods and services it provides are generally freely available. The consequence is that without prices, these resources are not being allocated efficiently within the economy and opportunities for significant gains in well-being and the possibility of long-term future growth are being lo...

  5. Measuring Social Capital

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard; Bjørnskov, Christian

    2007-01-01

    How to construct a robust measure of social capital? This paper contains two contributions. The first is an attempt to establish a broad social capital measure based on four indicators, the Freedom House Index, an index of perceived corruption from Transparency International, and scores on civic ...... serve as institutional models for countries and regions aiming to increase their future level of social capital. More rigorous empirical research is needed within this field.......How to construct a robust measure of social capital? This paper contains two contributions. The first is an attempt to establish a broad social capital measure based on four indicators, the Freedom House Index, an index of perceived corruption from Transparency International, and scores on civic...... participation and generalized trust. This measure is then applied by comparing the level of social capital in 25 countries from Western and Eastern Europe. Our nine cluster analysis shows that Switzerland has the highest score, followed by the Netherlands and Scandinavia. At the other end of the continuum we...

  6. The Determinants of State Spending on Higher Education: How Capital Project Funding Differs from General Fund Appropriations

    Science.gov (United States)

    Ness, Erik C.; Tandberg, David A.

    2013-01-01

    Our fixed-effects panel data analysis of state spending on higher education fills a near void of studies examining capital expenditures on higher education. In our study, we found that political characteristics (e.g., interest group activity, organizational structure, and formal powers) largely account for differences between general fund and…

  7. Radiological research activity 1998–2007: relationship to gross domestic product, health expenditure and public expenditure on education

    OpenAIRE

    Spitzmueller, David; Hodler, Juerg; Seifert, Burkhardt; Zanetti, Marco

    2010-01-01

    Objective The purpose of this study was to evaluate the relationship of the radiological research activity from 1998 to 2007 to the gross domestic product (GDP), health expenditure and public expenditure on education. Methods The population-adjusted research activity determined by the number of articles published, the cumulative impact factor (IF) and the cumulative IF per capita were correlated with per capita values of the GDP, health expenditure and public education expenditure. Linear reg...

  8. Vietnam : Managing Public Expenditure for Poverty Reduction and Growth, Public Expenditure Review and Integrated Fiduciary Assessment, Volume 2, Sectoral Issues

    OpenAIRE

    World Bank

    2005-01-01

    This Public Expenditure Review and Integrated Fiduciary Assessment (PER-FA) reviews and assesses the contribution that public expenditure has made to poverty reduction, and growth in Vietnam in recent years, and, identifies priorities and actions for strengthening that contribution over the coming years, through better resource allocation, and better public expenditure management. Fiscal trends have been positive, both in terms of revenue collection and expenditure outturns, resulting in a su...

  9. The Performance of Intellectual Capital

    DEFF Research Database (Denmark)

    Murthy, Vijaya; Mouritsen, Jan

    2011-01-01

    Purpose – This paper aims to analyse the relationship between intellectual capital and financial capital using a case study. This makes it possible to discuss how intellectual capital is related to value creation with a degree of nuance that is absent from most statistical studies of relationships...... between human, organisational, relational and financial capital. Design/methodology/approach – The paper uses a case study of a firm that invests in intellectual capital in order to develop financial capital. It traces the relationship between intellectual capital elements and financial capital via...... interviews. This allows the development of a nuanced account of the performance of intellectual capital. This account questions the universality of the linear model typically found in statistical studies. The model makes it possible to show how items of intellectual capital not only interact but also compete...

  10. Entrepreneurs’ human and social capital

    DEFF Research Database (Denmark)

    Rezaei, Shahamak; Schøtt, Thomas; Ashourizadeh, Shayegheh;

    2014-01-01

    It is widely acknowledged that entrepreneurs' human capital in form of education and social capital in form of networking are mutually beneficial and also that both human and social capital benefit their performance. Here, the hypothesis is that human and social capital, in combination, provide......, that human capital and social capital (specifically networking in the international environment, work-place, professions and market, but not in the private sphere) both benefit export directly and that human capital amplifies the benefit of social capital, especially through international networking....... added value and jointly add a further boost to performance, specifically if the form of exporting. Global Entrepreneurship Monitor provides data on 52,946 entrepreneurs, who reported on exporting and networking for advice. Hierarchical linear modelling shows that human capital promotes social capital...

  11. 26 CFR 1.501(h)-1 - Application of the expenditure test to expenditures to influence legislation; introduction.

    Science.gov (United States)

    2010-04-01

    ... expenditures to influence legislation; introduction. 1.501(h)-1 Section 1.501(h)-1 Internal Revenue INTERNAL...) Exempt Organizations § 1.501(h)-1 Application of the expenditure test to expenditures to influence..., (except as otherwise provided in subsection (h)).” This requirement is called the substantial part...

  12. Trade Barriers on Capital Goods

    OpenAIRE

    VURAL, Gülfer

    2015-01-01

    Capital goods play a major role in international trade. World production of capital goods and R&D activity are highly concentrated in some developed countries. Most of the countries, especially developing countries import the most of their capital equipment from some leading capital goods exporter countries. Therefore technological advances can be transmitted across borders through trade in capital goods. In international trade countries face trade costs. Trade costs can be in the form of...

  13. Communication Capital Productivity: National Aspect

    OpenAIRE

    Naumik Ekaterina G.

    2012-01-01

    The article offers suggestions for assessing communication capital productivity; the contradictions that affect the value of the communication efficiency of capital (the union of the agents of the market of communication services and products allows them to increase the communication capital productivity and to decrease communication capital productivity of competitors) are formulated; the dependence of productivity on the number of communication capital customers of the communication network...

  14. Social Capital Access and Entrepreneurship

    OpenAIRE

    Stefan Bauernschuster; Oliver Falck; Stephan Heblich

    2010-01-01

    We investigate the effect of social capital access on entrepreneurship. Social capital helps entrepreneurs to overcome resource constraints. This is especially important in small communities where we often see a lack of market-oriented institutions such as venture capital firms. Entrepreneurs gain access to social capital via club memberships. Combining differences in the number of individual club memberships with differences in the importance of social capital across communities, we identify...

  15. Household income and health care expenditures in Mexico.

    Science.gov (United States)

    Parker, S W; Wong, R

    1997-06-01

    The purpose of this paper is to examine the determinants of household health expenditures in Mexico. Our analysis involves the estimation of household monetary health care expenditures, using the economic and demographic characteristics of the household as covariates. We pay particular attention to the impact of household income on health expenditures, estimating the elasticity of health care expenditures with respect to income for different income groups and according to health insurance status. For the empirical analysis, we use the Mexican National Survey of Income and Expenditures of 1989. Our principle findings show that monetary health expenditures by Mexican households are sensitive to changes in household income levels and that the group which is most responsive to changes in income levels in the lower-income uninsured group. This suggests that in times of economic crisis, these households reduce cash expenditures on health care by proportionately more than higher-income and insured households. PMID:10168755

  16. Human capital and optimal positive taxation of capital Income

    OpenAIRE

    Jacobs, B.; Bovenberg, A.L.

    2005-01-01

    This paper analyzes optimal linear taxes on capital and labor incomes in a life-cyclemodel of human capital investment, financial savings, and labor supply with heteroge-nous individuals. A dual income tax with a positive marginal tax rate on not onlylabor income but also capital income is optimal. The positive tax on capital incomeserves to alleviate the distortions of the labor tax on human capital accumulation.The optimal marginal tax rate on capital income is lower than that on labor inco...

  17. Belize: A Review of Public Expenditures.

    OpenAIRE

    Graham Glenday; Gangadhar P. Shukla

    2006-01-01

    This study undertakes a broad-based evaluation of public expenditures in Belize in order to identify ways of enhancing economic and social gains from public services. It reviews the budgeting and financial management systems used to translate public finances into public services, with a focus on social services that meet the needs and demands of the people of Belize. The study will show that although budget system and budget performance issues themselves yield a large menu of potential budget...

  18. GSP and Health Expenditure in Italian Regions

    OpenAIRE

    Cosimo Magazzino

    2011-01-01

    This paper investigates the nexus between health care households’ expenditure and GSP for Italian regionsduring 1980-2009, using time series and panel econometric techniques. After a brief introduction and asurvey of the economic literature on this issue, we discuss the data and briefly introduce t h e methodologies.Empirical results show the presence of a long-run relationship in fifteen regions. As regards the causality analysis,health-led growth hypothesis is supported in three regions, wh...

  19. Lobbying expenditures on migration: a descriptive analysis

    OpenAIRE

    Facchini, Giovanni; Mayda, Anna Maria; Mishra, Prachi

    2015-01-01

    In this paper we carry out a descriptive analysis of lobbying expenditures on migration in the US between 1998 and 2005. While PAC contributions and lobbying are in general positively correlated, our results suggest that this is not the case when it comes to lobbying on migration. As a result, any analysis of the role of lobbying in migration should not focus on PAC contributions alone. Comparing lobbying on migration and trade, we find that substantially more resources are spent on the latte...

  20. The financing and effectiveness of agricultural expenditure

    OpenAIRE

    Chatellier, Vincent

    2008-01-01

    This text presents a critical analysis on the financial and effectiveness of public expenditure allocated to European agriculture. It deals with the proposals made by the European Commission under the health check of the Common Agricultural Policy (CAP). To provide some answers to the questions raised by his interlocutors (European parliament), the author draws on his analysis of agricultural policy and simulations applied to the French Farm Accountancy Data Network (FADN). The first part dea...

  1. Expenditure Switching and Exchange Rate Policy

    OpenAIRE

    Charles Engel

    2002-01-01

    Nominal exchange rate changes can lead to 'expenditure switching' when they change relative international prices. A traditional argument for flexible nominal exchange rates posits that when prices are sticky in producers' currencies, nominal exchange rate movements can change relative prices between home and foreign goods. But if prices are fixed ex ante in consumers' currencies, nominal exchange rate flexibility cannot achieve any relative price adjustment. In that case nominal exchange rate...

  2. Benefits of Public Expenditures on Sport

    OpenAIRE

    Smrčková, Hana Marie

    2014-01-01

    Participation in sport activities brings various benefits to the individuals involved as well as to the society as a whole. One of these benefits is a higher labour productivity following from a lower disease-induced absence rate and from the improved personal work characteristics. This thesis investigates the influence of public money spent in support of sport on labour productivity. The study is based on the data about these expenditures on the level of the Czech municipalities, whereas the...

  3. TAX EXPENDITURES IN THE DOMINICAN REPUBLIC

    OpenAIRE

    Glenn Jenkins; Chun-Yan Kuo

    2004-01-01

    This paper takes a broad approach in the sense that only the fundamental structure elements of each tax system are considered as part of the benchmark tax system. Moreover, this paper will go beyond the traditional tax expenditure reporting by taking into account an ideal tax system with minor distortions as part of the benchmark. Because of having an ideal tax system as a norm, the report makes some judgments about the appropriateness of the ideal tax structure in the Dominican Republic and ...

  4. The Economic Effects of Government Expenditures

    OpenAIRE

    Laurence J. Kotlikoff

    1982-01-01

    This paper discusses conceptual problems of distinguishing "expenditure" policy from "tax" policy and "deficit" policy. The paper argues that each of these concepts is ill-defined and does not provide a useful basis for examining the government" underlying fiscal policies. The fundamentals of fiscal policy involve changes in marginal incentives, inframarginal intra- and intergenerational redistribution, and direct government consumption. The paper reviews some of the effects of these fundamen...

  5. Productive Government Expenditure and Economic Growth

    OpenAIRE

    Irmen, Andreas; Kuehnel, Johanna

    2008-01-01

    We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study of their respective Euler equations. We argue that the existing literature incorporates many relevant aspects, however, policy recommen- dations tend to hinge on several knife-edge assumptions. Theref...

  6. Energy expenditure in congenital heart disease.

    OpenAIRE

    Barton, J S; Hindmarsh, P C; Scrimgeour, C M; Rennie, M J; Preece, M A

    1994-01-01

    Growth failure is a well recognised consequence of severe congenital heart disease. Total daily energy expenditure (TDEE) was investigated in eight infants with severe congenital heart disease to determine whether an increase in this parameter is an important factor in their failure to thrive, and to estimate the energy intake that would be required to allow normal growth. The infants were studied over a seven day period before surgery using the doubly labelled water method. Growth failure wa...

  7. Organizational networks and social capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Waldstrøm, Christian

    2013-01-01

    This chapter presents a framework for understanding organizational networks and social capital through the lens of “social capital ownership” as well as the private and collective goods provided through this ownership. More specifically, it argues that ownership of social capital in organizations...... is closely connected to four types of social capital – two belonging to the bridging social capital type, and two belonging to the bonding social capital type. The chapter first reviews literature on organizational social capital and then directly focuses on ownership of social capital in organizations......, as well as the derived benefits, or losses. Next, the chapter presents an empirical case apt to illustrate the theoretical findings in part one, namely the nineteenth-century Danish Cooperative Dairy Movement (Svendsen and Svendsen 2004). It is demonstrated how social capital among Danish peasants...

  8. GSP and Health Expenditure in Italian Regions

    Directory of Open Access Journals (Sweden)

    Cosimo Magazzino

    2011-11-01

    Full Text Available This paper investigates the nexus between health care households’ expenditure and GSP for Italian regionsduring 1980-2009, using time series and panel econometric techniques. After a brief introduction and asurvey of the economic literature on this issue, we discuss the data and briefly introduce t h e methodologies.Empirical results show the presence of a long-run relationship in fifteen regions. As regards the causality analysis,health-led growth hypothesis is supported in three regions, while the reverse causation appears in five cases. Theneutrality hypothesis seems to be confirmed in ten regions. Finally, a bi-directional causality flow (feedbackhypothesis has been found for two regions. Panel analysis shows that, if our sample is divided into three morehomogeneous macro-regions (North, Centre and South, a long-run relationship between health expenditure andaggregate income has been found in two areas. Furthermore, the income elasticity is below the unity, implyingthat health expenditure is not a luxury good.

  9. Social welfare expenditures, 1950-75.

    Science.gov (United States)

    Skolnik, A M; Dales, S R

    1976-01-01

    This article takes both a short-term and a long-term look at trends in social welfare expenditures under public programs. For fiscal year 1975, inflation and the recession were the key to developments. Inflation ate up more than half the 20 percent ($47 billion increase--the largest in the history of the series--partly as the result of antirecession measures. After adjustment for population and price changes, the real increase in per capita constant dollars was 7.1 percent--not large by recent measures but still significant when compared with the average annual increaseof 5.9 percent recorded since 1950. Public social welfare expenditures capped a decade of unusual growth in 1975 to absorb one-fith of the Nation's output of goods and services, after consuming only 9-12 percent between 1950 and 1965. Private social welfare expenditures of $108 billion accounted for less than 8 percent of the 1975 gross national product. PMID:828773

  10. The Effects of Intellectual Capital on Economic Value Added in Malaysians Companies

    Directory of Open Access Journals (Sweden)

    Payam Mojtahedi

    2013-06-01

    Full Text Available The purpose of this study is to explore and explain the relationship between Intellectual capital and Economic value added in 150 Malaysian firms during the years 2000 and 2011. Intellectual capital are considered as an independent variable which divided to human, relational and structural capital, to measure the ingredients of intellectual capital operating revenues have been used to form the proxy of human and relational capital and research and development expenditures have been used in the structural capital equation. Economic value added is considered as dependent variable that represents the value of the firms. Debt to equity ratio and Administrative expenses per staff are considered as intervene and control variable and their effect have been analyzed on the firms value added the method of multiple regressions has been used to predict the impact of intellectual capital and value added. The finding of this study shows that there is a positive relation between intellectual capital and economic value added; it also indicates that the effect of debt to equity ratio on economic value added is positive but this relation for Administrative expenses per staff is negative.

  11. Risk capital allocation

    DEFF Research Database (Denmark)

    Hougaard, Jens Leth; Smilgins, Aleksandrs

    sum of the risks of the individual sub-units. The question is how to allocate the risk capital of the company among the subunits in a fair way. In this paper we propose to use the Lorenz set as an allocation method. We show that the Lorenz set is operational and coherent. Moreover, we propose a set of......Risk capital allocation problems have been widely discussed in the academic literature. We consider a company with multiple subunits having individual portfolios. Hence, when portfolios of subunits are merged, a diversification benefit arises: the risk of the company as a whole is smaller than the...... new axioms related directly to the problem of risk capital allocation and show that the Lorenz set satisfies these new axioms in contrast to other well-known coherent methods. Finally, we discuss how to deal with non-uniqueness of the Lorenz set....

  12. Bank Capital Management

    OpenAIRE

    Jokipii, T.K.

    2009-01-01

    The work undertaken in this study empirically explores the determinants of regulatory bank capital bu®ers, and how they in°uence bank decisions. Focusing on bank capital management under the Basel I framework, this thesis serves to address some of the con- cerns that have been voiced regarding the implementation of the new regulation (Basel II) and the broader economic e®ects that could result. In particular, the research chapters of this thesis examine the cyclical behavior of European bank ...

  13. Governing Global Capital

    DEFF Research Database (Denmark)

    Harrington, Brooke

    in helping elites avoid taxes and other forms of regulation. The study documents how the means through which they achieve this objective - shifting billions in private capital wealth between Asia, Africa, India and Europe - and how this affects the balance of regional economic power. Drawing from an...... institutionalist perspective, the paper examines three ways in which wealth managers, both individually and through their professional society, influence regional competition for power and wealth: 1) by finding loopholes in existing policies that limit the global flow of capital; 2) by lobbying national and...

  14. Five models of capitalism

    Directory of Open Access Journals (Sweden)

    Luiz Carlos Bresser-Pereira

    2012-03-01

    Full Text Available Besides analyzing capitalist societies historically and thinking of them in terms of phases or stages, we may compare different models or varieties of capitalism. In this paper I survey the literature on this subject, and distinguish the classification that has a production or business approach from those that use a mainly political criterion. I identify five forms of capitalism: among the rich countries, the liberal democratic or Anglo-Saxon model, the social or European model, and the endogenous social integration or Japanese model; among developing countries, I distinguish the Asian developmental model from the liberal-dependent model that characterizes most other developing countries, including Brazil.

  15. Capital Structure and Assets

    DEFF Research Database (Denmark)

    Flor, Christian Riis

    2008-01-01

    This paper analyzes a firm's capital structure choice when assets have outside value. Valuable assets implicitly provide a collateral and increase tax shield exploitation. The key feature in this paper is asset value uncertainty, implying that it is unknown ex ante whether the equity holders ex...... post optimally sell the assets or re-optimize the capital structure. Ex ante, more uncertain asset value decreases leverage, but not firm value, and selling the assets becomes less likely. Firms should tend to invest in assets whose value is less correlated to changes in earnings and, in addition...

  16. Contingent Capital with a Capital-Ratio Trigger

    OpenAIRE

    Paul Glasserman; Behzad Nouri

    2012-01-01

    Contingent capital in the form of debt that converts to equity when a bank faces financial distress has been proposed as a mechanism to enhance financial stability and avoid costly government rescues. Specific proposals vary in their choice of conversion trigger and conversion mechanism. We analyze the case of contingent capital with a capital-ratio trigger and partial and ongoing conversion. The capital ratio we use is based on accounting or book values to approximate the regulatory ratios t...

  17. Thin Capitalization Rules and Entrepreneurial Capital Structure Decisions

    OpenAIRE

    Alexandra Maßbaum; Caren Sureth

    2009-01-01

    Tax planners often choose debt over equity financing. As this has led to increased corporate debt financing, many countries have introduced thin capitalization rules to secure their tax revenues. In a general capital structure model we analyze if thin capitalization rules affect dividend and financing decisions, and whether they can partially explain why corporations receive both debt and equity capital. We model the Belgian, German and Italian rules as examples. We find that the so-called Mi...

  18. Thin Capitalization Rules and Multinational Firm Capital Structure

    NARCIS (Netherlands)

    Blouin, J.; Huizinga, H.P.; Laeven, L.; Nicodeme, G.

    2014-01-01

    Abstract: This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using confide

  19. Human Capital and Optimal Positive Taxation of Capital Income

    NARCIS (Netherlands)

    B. Jacobs (Bas); A.L. Bovenberg (Lans)

    2005-01-01

    textabstractThis paper analyzes optimal linear taxes on capital and labor incomes in a life-cycle model of human capital investment, financial savings, and labor supply with heteroge- nous individuals. A dual income tax with a positive marginal tax rate on not only labor income but also capital inco

  20. Why do households without children support local public schools? linking house price capitalization to school spending

    OpenAIRE

    Christian A. L. Hilber; Christopher J. Mayer

    2002-01-01

    While residents receive similar benefits from many local public expenditures, only about one-third of all households have children in the public schools. In this paper the authors argue that capitalization of school spending into house prices can encourage residents to support spending on schools, even if the residents themselves will never have children in the schools. To examine this hypothesis, the authors take advantage of differences across communities in the extent of house price capita...

  1. Reducing Dependence Through Investment in Human Capital: An Assessment of Oman's Development Strategy

    OpenAIRE

    Looney, R.E.

    1990-01-01

    Socio-Economic Planning Sciences, vol 24, no1, 1990. Refereed Journal Article The purpose of this paper is to assess Oman's post-1970 efforts at developing its human capital. In addition, estimates are made of the factors most likely to interfere with the country's progress in this area. The main findings of the study are that while impressive gains in education have been made, this progress may be threatened by the government's excessive military expenditure plans. While defen...

  2. Has health capital formation cured "Baumol's disease"?, Panel Granger Causality Evidence for OECD Countries

    OpenAIRE

    Hartwig, Jochen

    2008-01-01

    A large body of both theoretical and empirical literature has affirmed a positive impact of human capital accumulation in the form of health on economic growth. Yet Baumol (1967) has presented a model in which imbalances in productivity growth between a ‘progressive’ (manufacturing) sector and a ‘nonprogressive’ sector of the economy (of which health care forms an integral part) lead to perpetual expenditure shifts into the latter and, as a consequence, to a decline in overall GDP growth. Whi...

  3. Investment behavior of U.S. firms over heterogeneous capital goods: a snapshot

    OpenAIRE

    Wilson, Daniel J.

    2004-01-01

    The 1998 Annual Capital Expenditure Survey (ACES) provides information on disaggregate investment across a wide range of detailed asset types for a representative sample of roughly 30,000 firms. These rich data on disaggregate investment provides us with a point-in-time snapshot of investment composition choices at the firm level. This short paper uses this data to establish a number of stylized facts about disaggregate investment behavior, with a special focus on information technology.

  4. NANNING China's Green Capital

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ Nanning,the capital city of Guangxi province,is not only the political,economic and cultural center of the province,but also plays an important role in the economic development of southwest China.Nanning's advantageous location makes the city a commercial and communication center,opening China to Southeast Asia.

  5. Human Capital and Sustainability

    Directory of Open Access Journals (Sweden)

    Garry Jacobs

    2011-01-01

    Full Text Available A study of sustainability needs to consider the role of all forms of capital—natural, biological, social, technological, financial, cultural—and the complex ways in which they interact. All forms of capital derive their value, utility and application from human mental awareness, creativity and social innovation. This makes human capital, including social capital, the central determinant of resource productivity and sustainability. Humanity has entered the Anthropocene Epoch in which human changes have become the predominant factor in evolution. Humanity is itself evolving from animal physicality to social vitality to mental individuality. This transition has profound bearing on human productive capabilities, adaptability, creativity and values, the organization of economy, public policy, social awareness and life styles that determine sustainability. This article examines the linkages between population, economic development, employment, education, health, social equity, cultural values, energy intensity and sustainability in the context of evolving human consciousness. It concludes that development of human capital is the critical determinant of long-term sustainability and that efforts to accelerate the evolution of human consciousness and emergence of mentally self-conscious individuals will be the most effective approach for ensuring a sustainable future. Education is the primary lever. Human choice matters.

  6. Corruption and Social Capital

    DEFF Research Database (Denmark)

    Bjørnskov, Christian

    2003-01-01

    I examine the causal relation between social capiatl and corruption. A simple model illustrates potential mechanisms and yields testable implications, which I estimate in a sample of European countries. The estimated effect of social capital on corruption is found to be robust to the inclusion of a...... redistribution, which in turn reduces corruption....

  7. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

    Thöni, Christian; Tyran, Jean-Robert; Wengström, Erik Roland

    We show that the standard trust question routinely used in social capital research is importantly related to cooperation behavior and we provide a microfoundation for this relation. We run a large-scale public goods experiment over the internet in Denmark and find that the trust question is a proxy...

  8. Is capitalism possible?

    NARCIS (Netherlands)

    Gaay Fortman, B. de

    1998-01-01

    In the two ages of its existence capitalism has given proof of its reformability. It was, however, anti-capitalist blueprints and ideas that constituted a continuous spiritual driving force towards reform. Today, after the collapse of real existing socialism there is an urgent need for new alternati

  9. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

    Thöni, Christian; Tyran, Jean-Robert Karl; Wengström, Erik Roland

    2012-01-01

    Research on social capital routinely relies on survey measures of trust which can be collected in large and heterogeneous samples at low cost. We validate such survey measures in an incentivized public good experiment and show that they are importantly related to cooperation behavior in a large and...

  10. Towards Transnational Academic Capitalism

    Science.gov (United States)

    Kauppinen, Ilkka

    2012-01-01

    This paper contributes to current debates on the relationship between globalisation and higher education. The main argument of the paper is that we are currently witnessing transnationalisation of academic capitalism. This argument is illustrated by examining the collaboration between transnational corporations and research universities, and how…

  11. Revitalizing ecological capital

    NARCIS (Netherlands)

    Swagemakers, P.; Wiskerke, J.S.C.

    2011-01-01

    The modernization of agricultural food production has diminished and is diminishing the sustainable use of the local natural resource base, resulting in the fragmentation of landscapes and the decline of biodiversity. In this paper we analyze the revitalization of ecological capital, which provides

  12. Manage "Human Capital" Strategically

    Science.gov (United States)

    Odden, Allan

    2011-01-01

    To strategically manage human capital in education means restructuring the entire human resource system so that schools not only recruit and retain smart and capable individuals, but also manage them in ways that support the strategic directions of the organization. These management practices must be aligned with a district's education improvement…

  13. Venture Capital Backed Growth

    OpenAIRE

    Keuschnigg, Christian

    2002-01-01

    The paper proposes a simple equilibrium model of venture capital, entrepreneurship and innovation. Venture capitalists not only finance but also advise start-up entrepreneurs and thereby add value to new firms. The paper demonstrates how a productive and active VC industry boosts innovation driven growth.

  14. Capital Expenditures : Making Public Investment Work for Competitiveness and Inclusive Growth in Moldova

    OpenAIRE

    Coulibaly, Karen Stephanie; Diagne, Mame Fatou

    2014-01-01

    Moldova faces the challenge of meeting considerable public investment needs while preserving fiscal sustainability. With a rapidly aging population, high emigration, structural imbalances, and vulnerability to external shocks, Moldova will need to raise investment, productivity, and exports in order to achieve sustained growth and competitiveness. The World Bank's recently published Moldov...

  15. Auditing and bank capital regulation

    OpenAIRE

    Edward Simpson Prescott

    2004-01-01

    Auditing is introduced into a model of bank capital regulation. Deterministic and stochastic auditing strategies are studied. Contrary to intuition, auditing of bank risk should be focused on the safest banks because they hold the least amount of capital. Risky banks, which hold more capital, need to be audited less. The importance of auditing by regulators and penalties for non-compliance are discussed in light of the Basel II capital regulation proposals. Emphasis is placed on the importanc...

  16. Capitalism: A System of Conspiracy

    OpenAIRE

    Das, Subhendu

    2010-01-01

    There are some myths about American capitalism. Some of them are (1) Capitalism made America the richest nation, (2) Capitalism is based on self interest, and (3) America has democracy. We show that the survival of capitalism is based on several powerful conspiracy theories. We briefly describe these conspiracies. Our analysis is based on the following principles: (a) Laws of conservation, (b) System theoretic concepts, and (c) The global space time (GST) environment. Using these princip...

  17. Crony Capitalism: Caricature or Category?

    OpenAIRE

    Mazumdar, Surajit

    2008-01-01

    This paper, part of a series on Crony Capitalism and Contemporary India, examines the conceptual meaning of the term crony capitalism, which has acquired considerable popularity since it was used as an explanation for the East Asian crisis. The paper argues that the conception of crony capitalism as a description of a distinct kind of capitalism associated with the State playing a key role in the allocation process suffers from serious deficiencies and therefore does not provide a suitable fr...

  18. Entrepreneurship capital and economic performance

    OpenAIRE

    Audretsch, David B; Keilbach, Max

    2004-01-01

    The neoclassical model of the production function, as applied by Robert Solow to build the neoclassical model of growth, linked labor and capital to output. More recently, Romer and others have expanded the model to include measures of knowledge capital. In this paper we introduce a new factor, entrepreneurship capital, and link it to output in the context of a production function model. This paper explains what is meant by entrepre-neurship capital and why it should influence economic output...

  19. Technology Differences and Capital Flows

    OpenAIRE

    Sebastian Claro

    2004-01-01

    The one-to-one mapping between cross-country differences in capital returns and the direction of international capital flows is broken in a multisector world where international factor price differences are driven by technology differences. A technology-backward or low-return-to-capital country will face capital inflows or outflows after financial integration depending on whether non-tradable demand is bossted or not

  20. Market Timing and Capital Structure

    OpenAIRE

    Jeffrey A. Wurgler; Baker, Malcolm P.

    2001-01-01

    It is well known that firms tend to raise equity when their market values are high relative to book and past market values. We document that the resulting effects on capital structure are very persistent. As a consequence, current capital structure is strongly related to past market valuations. The results are difficult to explain within traditional theories of capital structure and suggest that capital structure is the cumulative outcome of past attempts to time the equity market.

  1. Risk, capital and financial crisis

    OpenAIRE

    Ghosh, Saibal

    2014-01-01

    Employing data on over 100 banks for Gulf Cooperation Council (GCC) countries during 1996-2011, we test the relation between risk and capital. The findings indicate that banks generally increase capital in response to an increase in risk, and not vice versa. Second, there is an uneven impact of regulatory pressure and market discipline on banks attitude towards risk and capital. Additionally, Islamic banks increased their capital as compared to conventional banks.

  2. Capital Taxation and Rent Seeking

    OpenAIRE

    Arefiev, Nikolay; Baron, Tatyana

    2006-01-01

    We find the optimal capital income tax rate in an imperfectly competitive economy, where some part of recourses is devoted to rent-seeking activity. Optimal tax offsets the difference between marginal social and marginal private return to capital, which is a result of rent seeking, and the difference between the before tax interest rate and the marginal productivity of capital, which arises from imperfect competition. Optimal capital income tax rate depends neither on other tax rates nor on o...

  3. Extended Measures of Capital Transactions

    OpenAIRE

    Jorge Selaive; Beatriz Velásquez; José Miguel Villena

    2008-01-01

    In this work, we extend de jure measures of capital account restrictions previously assembled by Miniane (2004) to a set of 181 economies for the period 1996-2005. Additionally, we propose two new measures of capital account restrictions. The first excludes prudential regulation and the second weights the indices by a proxy for the enforcement of capital restrictions. We analyze global tendencies and the process of capital account liberalization in Chile. For the group of economies, we observ...

  4. MODELLING SOCIAL CAPITAL AND GROWTH

    OpenAIRE

    Yuan K. Chou

    2002-01-01

    This paper proposes three theoretical growth models incorporating social capital, based on varied expositions on the concept of social capital and the empirical evidence gathered to date. In these models, social capital impacts growth by assisting in the accumulation of human capital, by affecting financial development through its effects on collective trust and social norms, and by facilitating networking between firms that result in the creation and diffusion of business and technological i...

  5. What Drives Venture Capital Fundraising?

    OpenAIRE

    Paul A. Gompers; Josh Lerner

    1999-01-01

    We examine the determinants of venture capital fundraising in the U.S. over the past twenty-five years. We study industry aggregate, state-level, and firm-specific fundraising to determine if macroeconomic, regulatory, or performance factors affect venture capital activity. We find that shifts in demand for venture capital appear to have a positive and important impact on commitments to new venture capital funds. Commitments by taxable and tax-exempt investors seem equally sensitive to change...

  6. Capital Mobility and Asset Pricing

    OpenAIRE

    Duffie, Darrell; Strulovici, Bruno

    2009-01-01

    We present a model for the equilibrium movement of capital between asset markets that are distinguished only by the levels of capital invested in each. Investment in that market with the greatest amount of capital earns the lowest risk premium. Intermediaries optimally trade off the costs of intermediation against fees that depend on the gain they can offer to investors for moving their capital to the market with the higher mean return. Those fees also depend on the bargaining power of the in...

  7. How venture capital works.

    Science.gov (United States)

    Zider, B

    1998-01-01

    The popular mythology surrounding the U.S. venture-capital industry derives from a previous era. Venture capitalists who nurtured the computer industry in its infancy were legendary both for their risk taking and for their hands-on operating experience. But today things are different, and separating the myths from the realities is crucial to understanding this important piece of the U.S. economy. Today's venture capitalists are more like conservative bankers than the risk takers of days past. They have carved out a specialized niche in the capital markets, filling a void that other institutions cannot serve. They are the linch-pins in an efficient system for meeting the needs of institutional investors looking for high returns, of entrepreneurs seeking funding, and of investment bankers looking for companies to sell. Venture capitalists must earn a consistently superior return on investments in inherently risky businesses. The myth is that they do so by investing in good ideas and good plans. In reality, they invest in good industries--that is, industries that are more competitively forgiving than the market as a whole. And they structure their deals in a way that minimizes their risk and maximizes their returns. Although many entrepreneurs expect venture capitalists to provide them with sage guidance as well as capital, that expectation is unrealistic. Given a typical portfolio of ten companies and a 2,000-hour work year, a venture capital partner spends on average less than two hours per week on any given company. In addition to analyzing the current venture-capital system, the author offers practical advice to entrepreneurs thinking about venture funding. PMID:10187243

  8. Intellectual Capital: Comparison and Contrast.

    Science.gov (United States)

    Madsen, Susan R.

    2001-01-01

    Suggests that one of the most important keys for improving individual and organizational performance is in developing and strengthening intellectual capital (IC) and explores the similarities and differences between the concepts of intellectual capital, human capital, and knowledge management. Presents four IC characteristics and addresses the…

  9. Working Paper on Social capital

    DEFF Research Database (Denmark)

    Lassen Hanan, Anne

    2013-01-01

    This paper outlines the major schools within social capital theory. Contemporary authors such as Coleman, Putnam and Bourdieu are elaborated on. The paper also presents a non-exhaustive review on studies of social capital. Furthermore, a criticial discussion on social capital is reviewed, before...

  10. Pension funds and capital accumulation

    OpenAIRE

    Belan, Pascal; Michel, Philippe; Wigniolle, Bertrand

    2001-01-01

    This note presents a model in which pension funds, by holding a signifiant share of capital assets, can exert a non competitive behavior on labor market. This leads to lower wages and higher capital returns, and can reduce capital accumulation and Long-run welfare.

  11. Thin Capitalization Rules and Entrepreneurial Capital Structure Decisions

    Directory of Open Access Journals (Sweden)

    Alexandra Maßbaum

    2009-12-01

    Full Text Available Tax planners often choose debt over equity financing. As this has led to increased corporate debt financing, many countries have introduced thin capitalization rules to secure their tax revenues. In a general capital structure model we analyze if thin capitalization rules affect dividend and financing decisions, and whether they can partially explain why corporations receive both debt and equity capital. We model the Belgian, German and Italian rules as examples. We find that the so-called Miller equilibrium and definite financing effects depend significantly on the underlying tax system. Further, our results are useful for the treasury to decide what thin capitalization type to implement.

  12. MARKETING EXPENDITURES IN THE INDONESIAN CONSTRUCTION INDUSTRY

    Directory of Open Access Journals (Sweden)

    Krishna Mochtar

    2004-01-01

    Full Text Available In the 1960s, a “new” marketing concept known as "four Ps marketing mix" appeared and shifted the focus from the product to the customer. The objective of the new concept was not only profit, and the means of achieving the objective expanded to include the entire “marketing mix”: product, price, promotion, and place (channels and distribution. Expenditures of marketing in a company should be explored from these mixes, because each mix would have an impact on the total marketing expenditures. These four mixes are the main aspects of marketing and thus, should represent almost all expenditures in marketing in a company. From this research it is discovered that the responding contractors have only average efforts to improve or innovate their service, mostly using the latest construction methods and management approach. Correlated to their policy in the fourth mix (Place, they are still national oriented and not international oriented in marketing their services, this may lead to the big question of their survival; their motivation to innovate is only average while their target market is only national market. Their attitude to use more intensive “fees” policy rather than both product innovation and promotion is also interesting. Big percentage of the responding contractors assumes these “fees” are regular marketing practices. This attitude may better be stopped to make the construction industry practices healthier. Attitude to use more product innovation and true promotion approach in marketing in construction must be encouraged systematically in the future, to improve competitiveness in the long term.

  13. Energy expenditure during gait in patients with mucopolysaccharidosis

    OpenAIRE

    Matos, Marcos Almeida; Prado, André; Schenkel, Gustavo; Barreto, Rosa; Acosta, Angelina Xavier

    2013-01-01

    OBJECTIVE: The aim of this study is to evaluate energy expenditure in gait by mucopolysaccharidosis affected patients by means of a simple and adequate to the clinical environment methodology. METHODS: A cross-sectional study was carried out comparing energy expenditure during gait in 19 patients suffering from mucopolysaccharidosis (MPS Group) with 19 asymptomatic control individuals (Control Group). Energy expenditure was measured in calories (cal) using a Polar telemetric watch (model FT7)...

  14. FACTS IN DECENTRALIZATION OF PUBLIC EXPENDITURES IN EUROPEAN UNION

    OpenAIRE

    Adrian Mihai INCEU; Paul Vasile ZAI; Mara (Nandra), Eugenia Ramona

    2013-01-01

    Our research is focused on the very important field of public expenditures. The main goal is to emphasis the level of decentralization on public expenditures for all 27 European Union Countries. This decentralization is an important trend in public policy and depends on several factors such: specific of the expenditures, level and structure, specific social objectives, level of GDP, system of intergovernmental relations, subsectors of public administration sector, and so on.

  15. Optimizing Public Expenditure Allocations between Secondary and Higher Education

    OpenAIRE

    Vijay P. Ojha; Joydeep Ghosh

    2014-01-01

    With a view to define a balance in the allocation of public expenditure across secondary education and higher education, we compare, in this paper, the relative contributions of public expenditures on secondary and higher education to growth as well as equity, employing a computable general equilibrium (CGE) model of India. Our policy simulations show that reducing allocations for secondary education and correspondingly increasing allocations of public education expenditure for higher educati...

  16. Local government expenditures and regional growth in Sweden

    OpenAIRE

    Lundberg, Johan

    2001-01-01

    This thesis consists of five papers, which concern expenditure decisions and economic growth within Swedish local government.Paper [1] explores the hypothesis that local fiscal shocks have short run effects on revenue and expenditure decisions made within local government. It is found that although fiscal shocks do not affect local authorities' revenue decisions, they do induce municipalities to change expenditures and financial costs along with short term loans. Local authorities are also fo...

  17. The Behaviour of Disaggregated Public Expenditures and Income in Malaysia

    OpenAIRE

    Tang, Chor-Foon; Evan LAU

    2011-01-01

    The present study attempts to re-investigate the behaviour of disaggregated public expenditures data and national income for Malaysia. This study covers the sample period of annual data from 1960 to 2007. The Bartlett-corrected trace tests proposed by Johansen (2002) were used to ascertain the presence of long run equilibrium relationship between public expenditures and national income. The results show one cointegrating vector for each specification of public expenditures. The relatively new...

  18. Energy Expenditure during Sexual Activity in Young Healthy Couples

    OpenAIRE

    Frappier, Julie; Toupin, Isabelle; Levy, Joseph J.; Aubertin-Leheudre, Mylene; Karelis, Antony D.

    2013-01-01

    Objective To determine energy expenditure in kilocalories (kcal) during sexual activity in young healthy couples in their natural environment and compare it to a session of endurance exercise. Methods The study population consisted of twenty one heterosexual couples (age: 22.6 ± 2.8 years old) from the Montreal region. Free living energy expenditure during sexual activity and the endurance exercise was measured using the portable mini SenseWear armband. Perceived energy expenditure, perceptio...

  19. Government expenditure and theory of efficient private and public finance

    OpenAIRE

    Sikder, S M A

    2009-01-01

    The efficient government finance will increase economic growth and thereby income distribution. This research has been formulated an efficiency theory of production and finance. This research compared the government expenditure patterns into two situations. One, when a government borrows and accordingly allocates resources for productive expenditures for private and public finance. Another situation is that when a government borrows and fixed the resources for productive expenditure for only ...

  20. Children as consumers: investigating child diary expenditure data

    OpenAIRE

    Lisa Farrell; Shields, Michael A.

    2007-01-01

    We investigate expenditure behaviour of school-aged children using child diary information contained in the British Family Expenditure Survey. The estimates from an Almost Ideal Demand System (AIDS) for child expenditure suggest that drinks, sweets, books, and toys are `normal' goods for children, but clothes, travel, leisure and vice products are `luxury' items with income elasticities greater than one. Being a lone-parent child and having a working mother are important factors in determinin...

  1. Food Expenditures away from Home by Elderly Households

    OpenAIRE

    Yen, Steven T; Kasteridis, Panagiotis P.; Riley, John B.

    2012-01-01

    This study investigates the differentiated effects of economic and socio-demographic variables on food away from home (FAFH) expenditures by type of facility among elderly households in the United States. Using data from the 2008–2010 Consumer Expenditure Surveys, the systems of expenditures on full-service, fast food, and other restaurants are estimated with a multivariate sample selection estimator which also accommodates heteroscedasticity in the error distribution. Statistical significanc...

  2. Health Expenditure, education and Economic Growth in MENA Countries

    OpenAIRE

    Lacheheb, Miloud; Med Nor, Norashidah; Baloch, Imdadullah

    2014-01-01

    This study examines the relationship between health expenditure, education and economic growth in MENA countries using panel data estimation. Our results based on random effect estimation endorse a relationship between health expenditure, education and economic growth. Data were obtained from the World Bank Development Indicators for the period of 1995 to 2010 for 20 countries from Middle East and North Africa region. Importantly, our results reveal that health expenditure and education have ...

  3. Effect of Health Information Technology Expenditure on Patient Level Cost

    OpenAIRE

    Lee, Jinhyung; Dowd, Bryan

    2013-01-01

    Objectives This study investigate the effect of health information technology (IT) expenditure on individual patient-level cost using California Office of Statewide Health Planning and Development (OSHPD) data obtained from 2000 to 2007. Methods We used a traditional cost function and applied hospital fixed effect and clustered error within hospitals. Results We found that a quadratic function of IT expenditure best fit the data. The quadratic function in IT expenditure predicts a decrease in...

  4. The Causality between Government Revenue and Government Expenditure in Iran

    OpenAIRE

    2012-01-01

    The causal relationship between government revenue and government expenditure is an important subject in public economics especially to the control of budget deficit. The purpose of this study is to investigate the relationship between government revenue and government expenditure in Iran by applying the bounds testing approach to cointegration. The results of the causality test show that there is a bidirectional causal relationship between government expenditure and revenues in both long run...

  5. Redistributive Taxation, Public Expenditure, and Size of Governent

    OpenAIRE

    Sanghamitra Bandyopadhyay; Joan-Maria Esteban

    2009-01-01

    We introduce a model of redistributive income taxation and public expenditure. This joint treatment permits analyzing the interdependencies between the two policies: one cannot be chosen independently of the other. Empirical evidence reveals that partisan confrontation essentially falls on expenditure policies rather than on income taxation. We examine the case in which the expenditure policy (or the size of government) is chosen by majority voting and income taxation is consistently adjusted...

  6. Output Decline and Government Expenditures in European Transition Economies

    OpenAIRE

    Gerd Schwartz; Ke-young Chu

    1994-01-01

    This paper discusses the role of government expenditure policies in the decline in aggregate output in European transition economies. It is argued that there is little evidence for the hypothesis that more expansionary expenditure policies would have helped to mitigate the output decline. While measurement problems allow for very preliminary conclusions, it appears that government expenditures were, generally, not a binding constraint for output. In those cases where it could be argued that g...

  7. Revenue and Expenditure Nexus: A Case Study of Romania

    OpenAIRE

    Qazi Muhammad Adnan HYE; M. Anwar JALIL

    2010-01-01

    This study determines the causal relationship between the expenditure and revenue of government in the case of Romania by using the autoregressive distributive lag approach to cointegration, variance decomposition and rolling regression method. The results indicate that bidirectional long run relationship exist between expenditure and revenue of government. The variance decomposition method suggests government revenue shock has more sharply impact on the government expenditure as compared to ...

  8. The Causal Relationship Between Government Revenue and Expenditure in Namibia

    OpenAIRE

    Eita, Joel Hinaunye; Mbazima, Daisy

    2008-01-01

    The relationship between government revenue and government expenditure is important, given its relevance for policy especially with respect to the budget deficit. The purpose of this paper is to investigate the relationship between government revenue and government expenditure in Namibia. It investigates the causal relationship between government revenue and government expenditure using Granger causality test through cointegrated vector autoregression (VAR) methods for the period the period 1...

  9. Productive Government Expenditure in Monetary Business Cycle Models

    OpenAIRE

    Linnemann, Ludger; Schabert, Andreas

    2005-01-01

    This paper assesses the transmission of fiscal policy shocks in a New Keynesian framework where government expenditures contribute to aggregate production. It is shown that even if the impact of government expenditures on production is small, this assumption helps to reconcile the models' predictions about fiscal policy effects with recent empirical evidence. In particular, it is shown that government expenditures can cause a rise in private consumption, real wages, and employment if the gove...

  10. "Can Expenditure Cuts Eliminate a Budget Deficit?: The Australian Experience"

    OpenAIRE

    George Argyrous

    1998-01-01

    Australia Governments since the late 1970's have attempted to eliminate the fiscal deficit through reductions in expenditure. These efforts have failed. With each successive business cycle the Federal Government's budget outcome has been an ever growing deficit. This paper explains the failure of the government to achieve its balanced budget objective through expenditure reductions. It argues that the impact of these expenditure reductions on the course of the business cycle and the long term...

  11. Political Cycles in Public Expenditure: Butter vs Guns

    OpenAIRE

    Bove, V.; Efthyvoulou, G.

    2013-01-01

    This paper investigates how the timing of elections and government ideological motivations influence the dynamics of social and military expenditure in a panel of 22 OECD countries over the period 1988-2008. Three basic results emerge. First, governments tend to bias outlays towards social expenditure and away from military expenditure at election times. Second, membership in the NATO alliance affects the timing of election-driven military spending manipulations. Third, partisan distinctions ...

  12. El Salvador - Public Expenditure Review : Enhancing the Efficiency and Targeting of Expenditures, Volume 1. Main Report

    OpenAIRE

    World Bank

    2010-01-01

    This Public Expenditure Review (PER), produced jointly by the World Bank and the Inter-American Development Bank (IADB), is an in-depth economic and sector report on El Salvador. The study builds on the analysis and recommendations of the PER delivered in 2004 that concluded that El Salvador faced the dual challenge of addressing deteriorating fiscal trends while financing key investments ...

  13. Selection of intellectual capital management strategies

    OpenAIRE

    Shcherbachenko Viktoriia Oleksiivna

    2016-01-01

    This article deals with the selection of intellectual capital management strategy. The attention is paid to the structure of intellectual capital, which consists of human capital, customer capital, process capital, intellectual property, intangible assets. The algorithm of selection of intellectual capital management strategy was created by author.

  14. Social Capital in Rural Denmark

    OpenAIRE

    Svendsen, G.L.; Svendsen, Gert Tinggaard

    1999-01-01

    What are the roots of social capital and how can it be measured and built? Social capital is considered as a new production factor which must be added to the conventional concepts of human and physical capital. Social capital is productive because it increases the level of trust in a society and allows more transactions to take place without third-party enforcement. Theory and lessons from empirical evidence lead to the general recommendation that any loss in social capital must be deducted f...

  15. Performance systems and social capital

    DEFF Research Database (Denmark)

    Rasmussen, Grane Mikael Gregaard; Edwards, Kasper

    2014-01-01

    Performance systems and social capital are considered mutually exclusive. Contemporary studies show that social capital is essential in generating performance improvement. This raises an important question: “How do performance systems and social capital correspond?” This study draws on findings...... from a study on implementation of a performance system in Danish construction. The results show causalities between implementing the performance system and the emergence of social capital in construction projects. Results indicate that performance systems and social capital is not mutually exclusive...

  16. Social Capital in Rural Denmark

    DEFF Research Database (Denmark)

    Svendsen, G.L.; Svendsen, Gert Tinggaard

    1999-01-01

    What are the roots of social capital and how can it be measured and built? Social capital is considered as a new production factor which must be added to the conventional concepts of human and physical capital. Social capital is productive because it increases the level of trust in a society and ......-sized groups in the Danish Cooperative Dairy Movement was eliminated due to economies of scale. It may be so that an alternative way of production, taking social capital into account, could have increased economic growth further....

  17. A MULTIYEAR LAGS INPUT-HOLDING-OUTPUT MODEL ON EDUCATION WITH EXCLUDING IDLE CAPITAL

    Institute of Scientific and Technical Information of China (English)

    Xue FU; Xikang CHEN

    2009-01-01

    This paper develops a multi-year lag Input-Holding-Output (I-H-O) Model on education with exclusion of the idle capital to address the reasonable education structure in support of a sus-tainable development strategy in China. First, the model considers the multiyear lag of human capital because the lag time of human capital is even longer and more important than that of fixed capital. Second, it considers the idle capital resulting from the output decline in education, for example, stu-dent decrease in primary school. The new generalized Leonitief dynamic inverse is deduced to obtain a positive solution on education when output declines as well as expands. After compiling the 2000 I-H-O table on education, the authors adopt modifications-by-step method to treat nonlinear coefficients, and calculate education scale, the requirement of human capital, and education expenditure from 2005 to 2020. It is found that structural imbalance of human capital is a serious problem for Chinese economic development.

  18. Ensayo sobre el Capital Social

    Directory of Open Access Journals (Sweden)

    Ramón Frediani

    2011-08-01

    Full Text Available En la teoría económica existen distintas definiciones de capital: capital físico, el capital en recursos naturales, el capital financiero, el capital en infraestructura económica, el capital en infraestructura social y el capital humano. Todos ellos son condiciones necesarias para que un país alcance el desarrollo económico y social y un alto estándar y calidad de vida de sus habitantes, pero no suficientes puesto que hace falta una categoría adicional de capital. En los últimos años ha surgido el análisis de una nueva categoría: el Capital Social. El concepto se ha convertido en uno de los temas más debatidos de las ciencias sociales y políticas. Se refiere a un elemento invisible, etéreo, menos tangible que el capital humano (conocimientos y/o habilidades de los individuos o el capital físico (bienes materiales, pero que resulta decisivo para la actividad productiva, la satisfacción de las necesidades personales y el desarrollo comunitario y de una sociedad toda.

  19. Capital theory and rational choice

    Directory of Open Access Journals (Sweden)

    Golubović Nataša

    2009-01-01

    Full Text Available Almost from the very beginning of economic science the notion of capital has been the subject of numerous controversies. The main reason for the concept's controversial nature is that it explains interest and profit. In Marxian theory, where 'manner of production' determines forms of activities, mutual relationships and life of individuals, capital appears as a social phenomenon i.e. social relation. Goods and money are not capital by themselves but become capital in the capitalist way of production. Economics mainstream is based on methodological individualism upon which explanation of social phenomena and processes must be derived from individual behavior and motivation. Capital, therefore, is not a product of capitalism as a socially and historically specific form of economic organization, but is rather perceived as connected to the individual and his or her rational behavior. Rational choice is the basic and sometimes the only explanatory factor in the neoclassic theories of capital. Although theories of human and cultural capital point out the interdependence between individual activity and choice on the one hand, and social position on the other hand in the process of capitalization, the connection remains in the background and somehow unclear. A more explicit indication of the interdependence between social structure and choice can be found in the theory of social capital. The goal of this paper is to explore the role of rational choice theory in explaining the nature of capital.

  20. Tourism Expenditures and Environment in Thailand

    Directory of Open Access Journals (Sweden)

    Malliga Sompholkrang

    2014-09-01

    Full Text Available Tourism activities affect the environment of different destinations, which is influenced by different tourists’ consumption. The objective of this study is to examine the relationship between inbound tourist expenditures and three main environmental dimensions, which are carbon dioxide emission from transport, energy demand, and water usage, in Thailand. This paper employs Vector Autoregressive (VAR models to determine the relationship of variables. Data from Ministry of Energy, Bank of Thailand, Metropolitan Electricity Authority, Provincial Waterworks Authority, National Statistical Office, Department of Tourism, and Tourism Authority of Thailand between 1988 and 2012 have been applied in the model. Note that, energy demand is represented by total electricity consumption of hotel and accommodation sector in Thailand, while water usage is represented by the total water consumption of tourists. This study found the relationships among tourists’ expenditures, carbon dioxide emission from transport, energy demand, and water usage. Therefore, the policies recommendations may be essential to prepare the optimal schemes and budgets for encountering the environmental impacts from tourism business expansion.

  1. Socio-economic expenditure impacts report

    International Nuclear Information System (INIS)

    The direct and indirect employment and employment income that can result from lifting the moratorium on British Columbia's west coast were estimated. Jobs and income are the two socio-economic benefits that generate the most concern at the local, provincial and national levels. The estimates are based on the development scenarios of one natural gas project in the Hecate Strait, and one oil project in the Queen Charlotte Sound. It was noted that a significant component of the potential socio-economic benefits from offshore development in British Columbia will result from project investment expenditures. Statistics Canada's Input-Output Model was used to assess the total expenditure impacts at the national and provincial levels. The indirect impacts are relatively more important to the local economy because they deal mainly with accommodation, food, beverage, and transportation. The total impacts can be measured in terms of total revenues, gross domestic product, and wages and salaries. The nature of supplier services that may be required were also identified. It was estimated that with the combined impacts of construction and operations, the total Canadian gross domestic product will increase by $3.0 billion, most of which will accrue to British Columbia. refs., tabs., figs

  2. Capital Requirements and Banks' Leniency

    DEFF Research Database (Denmark)

    Dietrich, J. Kimball; Wihlborg, Clas

    2003-01-01

    We investigate the effect of changes in capital regulation on the strictness(leniency) of loan terms using a simple model of bank capital requirements andasset quality examinations. Banks offer different levels of `leniency' in the senseof willingness to offer automatic extensions of loans in the...... presence of temporarypayment difficulties of borrowers. Banks offering lenient (less strict) loan termsmust have higher initial levels of capital and charge higher loan rates. Whencapital requirements are increased, both strict and lenient banks hold higher levelsof initial capital and they raise loan...... rates. As capital requirements increase thedifference between initial capital levels and between interest rates of strict andlenient banks decrease. Thus, higher capital requirements in recessions tend toreduce the interest rate premium paid for leniency. If a recession is interpreted asan increase in...

  3. Contabilidad del capital intelectual

    OpenAIRE

    Myriam Ruiz Tibaná; Ramon Elias Jimenez Arias; Tito Duarte

    2007-01-01

    El capital intelectual es un valor intangible que debe incorporarse a los estados financieros, como parte de la generación de valor de todos los trabajadores de una organización. Existen algunos modelos que permiten cuantificarlo, aunque es preciso reconocer que debemos ahondar con más precisión con el objeto de contar con un mayor número de adeptos a esta importante referencia.

  4. Capital cost estimate

    Science.gov (United States)

    1975-01-01

    The capital cost estimate for the nuclear process heat source (NPHS) plant was made by: (1) using costs from the current commercial HTGR for electricity production as a base for items that are essentially the same and (2) development of new estimates for modified or new equipment that is specifically for the process heat application. Results are given in tabular form and cover the total investment required for each process temperature studied.

  5. Social capital and education

    OpenAIRE

    Timur Natkhov

    2012-01-01

    Timur Natkhov, Ph.D. in Economics, Associate Professor in the Subdepartment of Institutional Economics, National Research University - Higher School of Economics, Moscow, Russian Federation. Email: The paper presents a brief evolution of studies on the relationship between education and social capital in different countries. A distinctive feature of these studies is their interdisciplinary nature, as they combine theories and methods of different social sciences.To ide...

  6. Entrepreneurial Human Capital

    OpenAIRE

    Iversen, Jens; Malchow-Møller, Nikolaj; Sørensen, Anders

    2009-01-01

    We argue that formal schooling and wage-work experience are complementary types of human capital for entrepreneurs. Strong empirical support is found for this hypothesis as the interaction term between schooling and actual wage-work experience enters positively and significantly in a Mincer equation, whereas the effect of schooling in the absence of wage-work experience is insignificant. These results are extremely robust towards more flexible specifications, including fixed-effects estimatio...

  7. Managers and Market Capitalism

    OpenAIRE

    Rebecca Henderson; Karthik Ramanna

    2013-01-01

    In a capitalist system based on free markets, do managers have responsibilities to the system itself? If they do, should these responsibilities shape their behavior when they are engaging in the political process in an attempt to structure the institutions of capitalism? The prevailing view-perhaps most eloquently argued by Milton Friedman-is that the first duty of managers is to maximize shareholder value, and thus that they should take every opportunity (within the bounds of the law) to str...

  8. Investments in human capital

    OpenAIRE

    Milost, Franko; Novak, Matic

    2016-01-01

    Investments in human capital (employees) include investments in the direct assurance of working abilities, investments in health and well-being and investments in loyalty to the company. These investments are crucial for the long-term existence and development of a company, but their value is not disclosed on the assets side of the classical balance sheet. The most important argument given by the proponents of this approach is that the economic benefits stemming from such investments are unce...

  9. fuente de capital humano

    Directory of Open Access Journals (Sweden)

    Ligia Becerra

    2005-01-01

    Full Text Available El capital intelectual es una concepción novedosa, tipificada como un activo intangible que agrega valor a la empresa; está formado por tres componentes: el capital organizacional, el humano y el relacional. El capital humano está relacionado con el desarrollo y los conocimientos del individuo, que permite diferenciar a un profesional de otro. El objetivo de este trabajo es analizar la formación del Contador Público egresado de la Universidad de Los Andes (ULA de Trujillo, como fuente de capital humano para su desempeño profesional. Los datos se recolectaron aplicando un cuestionario a una muestra aleatoria de 47 de estos profesionales, empleando para el análisis y presentación de los resultados técnicas estadísticas. La investigación evidencia que la mayoría de los encuestados poseen un nivel de satisfacción de medio a bajo con su formación de pregrado, señalando como principales debilidades del Plan de Estudio las áreas tributaria y cambiaria, el manejo instrumental del inglés y el conocimiento de las normativas que rigen el sistema económico. La formación en algunas de estas áreas la han mejorado a través de otras actividades de capacitación. No obstante reconocen algunas fortalezas tales como: el aprendizaje y dominio de conceptos y Principios Contables de Aceptación General, las matemáticas y estadística, el manejo de la contabilidad computarizada y las habilidades para analizar e interpretar problemas contables. Se concluye que a pesar de las deficiencias, la realización de cursos de actualización, junto con las fortalezas en la formación de la carrera, ha contribuido a que el contador público egresado de la ULA de Trujillo constituya un capital humano con ventaja competitiva.

  10. Distributions of owner-occupiers' housing wealth, debt and interest expenditure ratios as financial soundness indicators

    DEFF Research Database (Denmark)

    Lunde, Jens

    /GDP, highest total liabilities/net wealth and highest mortgage debt/net non-financial wealth ratios among 15 OECD countries. Obviously, an analysis of the financial soundness of owner-occupiers is topical in order to analyse financial stability in society. The financial soundness of Danish owner......-occupier families is analysed using relevant financial indicators for the owner-occupiers' capital structure and interest payments. Tax statistics for the owner-occupier families are used here. In a financial soundness perspective macro data are of limited importance as they express total and average changes....... Distributional data at the micro level, formed at the family (household) level, are important for recognizing changes in the financial soundness of the nation. The data are used to estimate important financial indicators as debt/income, housing wealth/income, debt/housing wealth and net interest expenditure...

  11. Türkiye’de Beşeri Sermaye ve Ekonomik Büyüme İlişkisinin Analizi(An Analysis of the Relationship Between Human Capital and Economic Growth in Turkey

    Directory of Open Access Journals (Sweden)

    Muhammed KARATAŞ

    2011-01-01

    Full Text Available The aim of this paper is to test empirically the effect of human capital investment on economic development by using time series methods for the period 1981–2006 in Turkey. We employ the real per capita growth rate as a depented variable and physical capital and human capital as indepented variables. Growth rate of total fixed capital is used for total physical capital variables. In case of human capital; the share of total education expenditure in GDP, the share of total health expenditure in GDP and rate of school enrollment are used by turns. The main hypothesis is to test whether the primal factor is human capital in Turkish economic development. To test this hypothesis we use Romer’s (1990 Endogenous Technological Change Model (ETCM. The Engle-Granger two step co-integration method is used with time series.The econometric results indicate that physical and human capital accumulation affects positively Turkish economic development. But, when we apply model selection criterion, the main result of this paper show that the Turkish economy has acchieved endogenous growth depending on physical capital rather than human capital.

  12. Corruption and staff expenditures in the U.S. Congress

    OpenAIRE

    Boylan, Richard T.

    1998-01-01

    Staff expenditures in the U.S. Congress increased exponentially from 1940 to 1980, but have remained roughly constant since. A theoretical model of Congressional expenditures, bureaucratic oversight, and congressional ethics is developed to understand historical data. Such a model allows one to define and test a measure of the fraction of Congress that maximizes material rewards (vs. intrinsic rewards of being in office).

  13. Albania : Public Expenditure and Institutional Review, Volume 2. Main Report

    OpenAIRE

    World Bank

    2001-01-01

    This report presents an in-depth evaluation of the budgetary planning process in Albania and the institutional arrangements required for better management of public expenditures. The report does not provide a detailed analysis of expenditures or an assessment of investment projects and their outcomes in each sector. Such a shift in emphasis is appropriate given the currently weak instituti...

  14. Albania : Public Expenditure and Institutional Review, Volume 1. Executive Summary

    OpenAIRE

    World Bank

    2001-01-01

    This report presents an in-depth evaluation of the budgetary planning process in Albania and the institutional arrangements required for better management of public expenditures. The report does not provide a detailed analysis of expenditures or an assessment of investment projects and their outcomes in each sector. Such a shift in emphasis is appropriate given the currently weak instituti...

  15. 26 CFR 1.46-5 - Qualified progress expenditures.

    Science.gov (United States)

    2010-04-01

    ... progress expenditures. The share of qualified progress expenditures of each partner, shareholder, trust... construction to corporation X is $500,000. The contract price is $550,000. Corporation Y makes a $110,000.... Twenty percent of the contract price is $110,000. The percentage of completion limitation for each...

  16. 26 CFR 53.4945-1 - Taxes on taxable expenditures.

    Science.gov (United States)

    2010-04-01

    ... federal tax law governing taxable expenditures, and (c) He negligently fails to make reasonable attempts... avoid the restrictions of the law or the incurrence of any tax is necessary to make an agreement willful....4945-1 Taxes on taxable expenditures. (a) Imposition of initial taxes—(1) Tax on private...

  17. Kyrgyz Republic Public Expenditure Review Policy Notes : Public Wage Bill

    OpenAIRE

    World Bank

    2014-01-01

    Restraining the growing wage bill expenditures while enhancing the performance of the public sector remains one of the government's major development priorities. Wage bill levels in the Kyrgyz Republic are high compared to the majority of Europe and Central Asia (ECA) countries, constituting almost one third of government expenditures. Over the last few years, the government has undertaken...

  18. Faculty Employment and R&D Expenditures at Research Universities

    Science.gov (United States)

    Zhang, Liang; Ehrenberg, Ronald G.

    2010-01-01

    This study uses panel data to examine the relationship between faculty employment and external R&D expenditures at Research and Doctoral institutions over a 15-year period of time. On average, a 1% increase in the number of full-time faculty is associated with about 0.2% increase in total R&D expenditure. Further, a one percentage point increase…

  19. Tax Increment Financing and Education Expenditures: The Case of Iowa

    Science.gov (United States)

    Nguyen-Hoang, Phuong

    2014-01-01

    This is the first study to directly examine the relationship between tax increment financing (TIF) and education expenditures, using the state of Iowa as a case study. I find that greater use of TIF is associated with reduced education expenditures. I also find little evidence to support the commonly held proposition that school spending increases…

  20. Health Expenditure Trends in OECD Countries, 1970-1997

    OpenAIRE

    Huber, Manfred

    1999-01-01

    This article provides an overview of current trends in health expenditures in 29 OECD countries and recent revisions of OECD health accounts. U.S. health expenditures are compared with those of other OECD countries. The interactions of cost-containment measures with changes in the public-private mix of financing and in the composition of health care spending are discussed.

  1. Hurdles for sport consumption? Determining factors of household sports expenditure

    NARCIS (Netherlands)

    Thibaut, Erik; Vos, Steven; Scheerder, Jeroen

    2013-01-01

    The purpose of this article is to explore the determining factors of household expenditures on sports participation. Due to a relatively large amount of zero-expenditures, simple regression methods are not suited. Because of methodological reasons, the two-step Heckman approach is used over the Tobi

  2. 36 CFR 262.4 - Audit of expenditures.

    Science.gov (United States)

    2010-07-01

    ... 36 Parks, Forests, and Public Property 2 2010-07-01 2010-07-01 false Audit of expenditures. 262.4 Section 262.4 Parks, Forests, and Public Property FOREST SERVICE, DEPARTMENT OF AGRICULTURE LAW ENFORCEMENT SUPPORT ACTIVITIES Rewards and Payments § 262.4 Audit of expenditures. The Chief of the...

  3. 42 CFR 52c.6 - Expenditure of grant funds.

    Science.gov (United States)

    2010-10-01

    ... the applicable cost principles prescribed by subpart Q of 45 CFR part 74. (b) The Secretary may permit... 42 Public Health 1 2010-10-01 2010-10-01 false Expenditure of grant funds. 52c.6 Section 52c.6... RESEARCH SUPPORT PROGRAM § 52c.6 Expenditure of grant funds. (a) Any funds granted pursuant to this...

  4. 34 CFR 303.127 - Assurance regarding expenditure of funds.

    Science.gov (United States)

    2010-07-01

    ... 34 Education 2 2010-07-01 2010-07-01 false Assurance regarding expenditure of funds. 303.127 Section 303.127 Education Regulations of the Offices of the Department of Education (Continued) OFFICE OF... Assurance regarding expenditure of funds. The statement must include an assurance satisfactory to...

  5. 42 CFR 52d.7 - Expenditure of grant funds.

    Science.gov (United States)

    2010-10-01

    ... of the awards, and the applicable cost principles prescribed by subpart Q of 45 CFR part 74, except... 42 Public Health 1 2010-10-01 2010-10-01 false Expenditure of grant funds. 52d.7 Section 52d.7... INSTITUTE CLINICAL CANCER EDUCATION PROGRAM § 52d.7 Expenditure of grant funds. (a) Any funds...

  6. 24 CFR 982.157 - Budget and expenditure.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Budget and expenditure. 982.157 Section 982.157 Housing and Urban Development Regulations Relating to Housing and Urban Development... and PHA Administration of Program § 982.157 Budget and expenditure. (a) Budget submission. Each...

  7. 11 CFR 9033.3 - Expenditure limitation certification.

    Science.gov (United States)

    2010-01-01

    ... committee(s) have knowingly and substantially exceeded the expenditure limitations at 11 CFR part 9035 prior... and substantially exceeded the expenditure limitations at 11 CFR part 9035. (c) A final determination... candidate of its initial determination, in accordance with the procedures outlined in 11 CFR 9033.10(b)....

  8. 11 CFR 110.8 - Presidential candidate expenditure limitations.

    Science.gov (United States)

    2010-01-01

    ... section shall be increased in accordance with 11 CFR 110.17. (3) Voting age population is defined at 11 CFR 110.18. (b) The expenditure limitations shall not be considered violated if, after the date of the... expenditure limitation under 11 CFR 9035.1. (d)(1) If an individual is a candidate for more than one...

  9. 25 CFR 700.189 - Expenditure of replacement home benefits.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 2 2010-04-01 2010-04-01 false Expenditure of replacement home benefits. 700.189 Section 700.189 Indians THE OFFICE OF NAVAJO AND HOPI INDIAN RELOCATION COMMISSION OPERATIONS AND RELOCATION PROCEDURES Replacement Housing Payments § 700.189 Expenditure of replacement home benefits. Replacement...

  10. 10 CFR 420.18 - Expenditure prohibitions and limitations.

    Science.gov (United States)

    2010-01-01

    ... Persons, under 10 CFR part 440; (5) Subject to paragraph (f) of this section, a State may use a variety of... 10 Energy 3 2010-01-01 2010-01-01 false Expenditure prohibitions and limitations. 420.18 Section... § 420.18 Expenditure prohibitions and limitations. (a) No financial assistance provided to a State...

  11. 34 CFR 200.60 - Expenditures for professional development.

    Science.gov (United States)

    2010-07-01

    ... 34 Education 1 2010-07-01 2010-07-01 false Expenditures for professional development. 200.60... Paraprofessionals § 200.60 Expenditures for professional development. (a)(1) Except as provided in paragraph (a)(2... professional development activities to ensure that teachers and paraprofessionals meet the requirements...

  12. 76 FR 80803 - Independent Expenditures and Electioneering Communications by Corporations and Labor Organizations

    Science.gov (United States)

    2011-12-27

    ... Communications by Corporations and Labor Organizations, 76 FR 36001 (June 21, 2011). The Commission received... corporate and labor organization funding of expenditures, independent expenditures and electioneering... regulations prohibiting independent expenditures and electioneering communication made by corporations...

  13. Daily energy expenditure and physical activity measured in Parkinson's disease patients with and without weight loss

    Science.gov (United States)

    Patients with Parkinson's disease (PD) commonly exhibit weight loss, which investigators attribute to various factors, including elevated resting energy expenditure. We tested the hypothesis that daily energy expenditure (DEE) and its components, resting energy expenditure (REF) and physical activit...

  14. 75 FR 8353 - Price Index Adjustments for Expenditure Limitations and Lobbyist Bundling Disclosure Threshold

    Science.gov (United States)

    2010-02-24

    ... Price Index Adjustments for Expenditure Limitations and Lobbyist Bundling Disclosure Threshold AGENCY: Federal Election Commission. ACTION: Notice of adjustments to expenditure limitations and lobbyist... Commission'') is adjusting certain expenditure limitations and the lobbyist bundling disclosure threshold...

  15. 77 FR 9925 - Price Index Adjustments for Expenditure Limitations and Lobbyist Bundling Disclosure Threshold

    Science.gov (United States)

    2012-02-21

    ... Price Index Adjustments for Expenditure Limitations and Lobbyist Bundling Disclosure Threshold AGENCY: Federal Election Commission. ACTION: Notice of adjustments to expenditure limitations and lobbyist... Commission'') is adjusting certain expenditure limitations and the lobbyist bundling disclosure threshold...

  16. 76 FR 8368 - Price Index Adjustments for Contribution and Expenditure Limits and Lobbyist Bundling Disclosure...

    Science.gov (United States)

    2011-02-14

    ... Price Index Adjustments for Contribution and Expenditure Limits and Lobbyist Bundling Disclosure Threshold AGENCY: Federal Election Commission. ACTION: Notice of adjustments to contribution and expenditure...'' or ``the Commission'') is adjusting certain contribution and expenditure limits and the...

  17. 78 FR 8530 - Price Index Adjustments for Contribution and Expenditure Limitations and Lobbyist Bundling...

    Science.gov (United States)

    2013-02-06

    ... Price Index Adjustments for Contribution and Expenditure Limitations and Lobbyist Bundling Disclosure Threshold AGENCY: Federal Election Commission. ACTION: Notice of adjustments to contribution and expenditure...'' or ``the Commission'') is adjusting certain contribution and expenditure limitations and the...

  18. Venture Capital, Private Firms, and the Capital Acquisition Process

    OpenAIRE

    Mull, Rick H.

    1994-01-01

    This paper presents an empirical examination of the incentives motivating venture capitalists and sample of growth option intensive private firms with acute capital requirements to interact, the gains each group achieves through this association, the types of private firms successfully attracting venture capital, and mechanisms used in this funding process. Results show that venture capital backed firms achieve growth rates (1) greater than expected, and (2) greater than a matched sample of n...

  19. Capital Gains Taxes, Irreversible Investment, and Capital Structure

    OpenAIRE

    Norman Schuerhoff

    2004-01-01

    Personal taxation can be an important determinant of corporate investment and financing decisions if the marginal investor is taxed. I develop a dynamic capital budgeting model under realization-based capital gains taxation that highlights distinct cross-sectional and time-series implications. Capital gains taxation creates an embedded tax timing option that reduces investors’ uncertainty about after-tax payoffs in downstates. The inherent asymmetry in personal taxation diminishes the value...

  20. [Poverty, social exclusion, social capital and health].

    Science.gov (United States)

    Del Rey Calero, Juan

    2004-01-01

    Social capital is the social structure which facilitates the actions of individuals, stimulates production and allows for success. Poverty maintains basic needs unmet (food, health, autonomy) over time and unvoluntarily. Social exclusion does not allow individuals to participate in society. The following dimensions are assessed: financial poverty, social inclusion, employment, health and education. Social participation, work integration, empowerment, self-esteem, and personal achievement should be promoted. In Europe 15% of people is exposed to poverty; in Spain corresponding figures are 13.4%, while for the elderly reached 21%. Extreme poverty affects 6.2% population and severe poverty 14.2%. Women and those living in Andalusia, Canary Islands and Extremadura are particularly affected, health inequality are for elderly, immigration, gender, social class, and should be reduced 10% for 2010. The Gini indez measures the income distribution; in the European Union (EU) it is 0.29 while in Spain is 0.33. Poverty and health are inversely correlated, health care expenditure in Spain is 7.5% og GDP. Life expectancy in U.E. is 75.5 years for men and 81.6 years for women, while in Spain it is 78 and 83.1 respectively. Infant mortality in EU is 4.5/1000, 4.1 per thousand in Spain. Lastly, the number of children per women in EU is 1.47 and in Spain 1.3. PMID:15553403

  1. Incidence of public expenditure on the human development index in Bogota, 1995-2010

    Directory of Open Access Journals (Sweden)

    Mónica Consuelo Rodríguez Torres

    2012-01-01

    Full Text Available This paper seeks to test the hypothesis that social public expenditure per capita invested in Bogota has had a significant influence on the improvement of the city’s human development. For this purpose, the Human Development Index (HDI for the capital between 1995-2010 is estimated, using the new methodology proposed by the UNDP in 2010. Thus, a retrospective estimation of the life expectancy, salaries, and educational achievement rates is carried out, the last as a combination between the average years of education and expected years of instruction. A qualitative analysis is then presented, between the HDI components and the social public expenditure invested through politics, programs, projects carried out in the city, according to the District Development Plan “Bogotá positiva, para vivir mejor (Positive Bogota, to Live Better”. Finally, a quantitative analysis of this relation is made and it is concluded that social public spending per capita is significant to explain the HDI, since there is a long-term and stable relation between the two variables.

  2. Public environmental expenditures in Estonia during 1995-2011

    Directory of Open Access Journals (Sweden)

    Sirje Pädam

    2014-01-01

    Full Text Available The purpose of this paper is to assess the impact of earmarking on central government environment protection expenditure. Since central government spending for the environment relies on earmarked revenues, which is not the case of the local government, it is expected that central government expenditure is to a lesser degree affected by macroeconomic developments. The analysis indicates that this is the case because correlation between GDP change and the change in central government expenditure for environment protection is smaller than that of the local government. It is also found that increasing revenues from earmarked environmental charges have contributed to growing expenditure. However, the analysis also suggests that the main driver of this growth is the expansion is EU funds. Reliance on EU expenditure was further reinforced by changes in earmarking rules in 2008-2009

  3. Capital Income Taxation and Tax Criteria in International Capital Markets

    OpenAIRE

    Hannu Piekkola

    1995-01-01

    The study analyses the capital income taxation of foreign-source income, where residence and source criteria are the two well-known tax criteria. The study presents a globally optimal tax rule which equalizes the shadow price of capital in the countries and which is assumed to be a weighted average of the return on savings and on investment, i.e. depending on the gross rate of return to the extent that capital contributes to the capital used, and on the net interest rate to the extent that ca...

  4. The demand for lottery expenditure in Taiwan: a quantile regression approach

    OpenAIRE

    Cho-Min Lin; Kung-Cheng Lin

    2007-01-01

    This paper is a pioneering attempt to apply the quantile regression method (QRM) to the demand for lottery expenditure in order to consider the extreme behavior of lottery expenditure as well as clarify the diverse results obtained from previous studies on lottery expenditure. The results of this study reveal that there exists a complementary correlation both between benevolent donations and lottery expenditure, and between entertainment expenditure and lottery expenditure. By contrast, the r...

  5. PUBLIC EXPENDITURES POLITICS ON A NATIONAL LEVEL

    Directory of Open Access Journals (Sweden)

    ANA-PETRINA PĂUN

    2013-10-01

    Full Text Available The development level of a society is closely related to the development state of its individuals. Ensuring a high level of welfare for individuals is done through public politics. In this work, the definition of public politics is presented through the synthesis of several authors` points of view. Starting from these visions, we have presented at a national level the public politics of public expenditures and those of public debt respectively. In regard to public debt politics, we have presented the „Public debt management (Management of government public debt and the authorisation and supervision of local public debt” politic along with its aim and objectives. Towards the final part of the document we have emphasised the objectives of the strategy regarding government public debt management on medium term for 2012-2014 (Strategy.

  6. Modeling total expenditure on warranty claims

    CERN Document Server

    Mitra, Abhimanyu

    2010-01-01

    We approximate the distribution of total expenditure of a retail company over warranty claims incurred in a fixed period [0, T], say the following quarter. We consider two kinds of warranty policies, namely, the non-renewing free replacement warranty policy and the non-renewing pro-rata warranty policy. Our approximation holds under modest assumptions on the distribution of the sales process of the warranted item and the nature of arrivals of warranty claims. We propose a method of using historical data to statistically estimate the parameters of the approximate distribution. Our methodology is applied to the warranty claims data from a large car manufacturer for a single car model and model year.

  7. Public Expenditure Evolution in EU4 Countries

    Directory of Open Access Journals (Sweden)

    Daniela-Georgeta BEJU

    2014-11-01

    Full Text Available In contemporary society, the economy is the main pillar on which the state is based and life society is directly influenced by its evolution. So, development, or rather growth affects the smooth running of things, but this in turn is influenced by the decisions taken by individuals from government institutions, the ability of people to make profitable investments, but also to manage it more efficiently.The paper aims to highlight the importance of knowledge in public spending system, because the local communities or nations have to be awareness that nowhere can not consume more than they produce, and when this happens, the social-economic progress is endangered, so burden and poverty population are inevitable consequences. The study is based on analysis of public expenditure system in four Eastern European countries (Czech Republic, Romania, Slovakia, Hungary in the period 2000-2013.

  8. Equity in Health Care Expenditure in Nigeria

    Directory of Open Access Journals (Sweden)

    Olanrewaju Olaniyan

    2013-07-01

    Full Text Available Equity isone of the basic principles of health systems and features explicitly in theNigerian health financing policy. Despite acclaimed commitment to theimplementation of this policy through various pro-poor health programmes andinterventions, the level of inequity in health status and access to basichealth care interventions remain high. This paper examines the equity of healthcare expenditure by individuals in Nigeria. The paper evaluated equity in out-of-pocketspending( OOP for the country and separately for the six geopolitical zones ofthe country.The methodological framework rests onKakwani Progressivity Indices (KPIs, ReynoldSmolensky indices andconcentration indices (CIs using data from the 2004 Nigerian National LivingStandard Survey( NLSS collected by the National Bureau of Statistics. .The results reveal that health financing isregressive with the incidence disproportionately rest on poor households withabout 70% of the total expenditure on health is through out-of-pocket paymentsby households. Poor households are prone to bear most of the expenses in theevent of any health shock. The catastrophic consequences thus push some intopoverty, and aggravate the poverty of others.The paper therefore suggests that thecountry’s health financingsystems must be designed not only to allow people to access services when theyare needed, but must also protect household, from financial catastrophe, byreducing OOP spending through risk pooling and prepayment schemes within thehealth system.Keywords:                            Equity, Health careexpenditure, Kakwani progressivity index, Nigeria.

  9. Romania - Building Institutions for Public Expenditure Management : Reforms, Efficiency and Equity - A Public Expenditure and Institutions Review

    OpenAIRE

    World Bank, (WB)

    2002-01-01

    This Public Expenditure and Institutions Review (PEIR) was undertaken at a critical juncture of public expenditure management in Romania. Following three years of economic decline, the economy began growing in 2000, reaching a real GDP growth rate of 5.3 percent in 2001. The Government thus defined an economic reform strategy, to move forward the banking system and enterprise privatization...

  10. Should we raise public expenditure on basic education and reduce expenditure at college?

    OpenAIRE

    Marisa Hidalgo-Hidalgo; Iñigo Iturbe-Ormaetxe

    2008-01-01

    This paper analyzes public intervention in education, taking into account the existence of two educational levels: basic education and college education. The government decides per capita expenditure at each level and the subsidy for college education. We explore the effect of transferring money from one level to the other on equity and efficiency. We find that there is always a policy reform that satisfies both the objectives of equity and efficiency, where efficiency refers to average produ...

  11. Capital social et anthroponomie

    OpenAIRE

    Peaucelle, Irina

    2002-01-01

    Dans ce texte j'analyse les relations entre la composante Santé du capital social et la reproduction élargie de l'économie. Il s'agit aussi de discuter des méthodes d'évaluation de santé des populations pour apprécier leur potentiel de travail. En s'appuyant sur des travaux en psychologie sociale, je cherche à appréhender les rythmes anthroponomiques de l'évolution économique.

  12. Knight Capital Americas LLC

    DEFF Research Database (Denmark)

    Austin, Robert D.; Meister, Darren

    2015-01-01

    It took 19 years to build Knight Capital Americas LLC into the largest market maker on the New York Stock Exchange, but on August 1, 2012, it took only 45 minutes for the firm to be wiped out by an information technology (IT) problem: a change in the company's software caused it to lose more than...... officer, other managers and the board of directors have done differently? What lessons does this story hold for how firms should be managed and governed? And what does it say about our ability to manage risk in large modern corporations operating in increasingly fast-moving and complex global markets?...

  13. Capital social comunicativo

    Directory of Open Access Journals (Sweden)

    Darío Ángel

    2011-01-01

    Full Text Available En este artículo se buscan establecer las bases para una transformación del tradicional triángulo comunicativo emisor-mensaje-receptor, por un esquema que haga alusión a la dinámica social de la comunicación relacionada con lo público: actores-escenarios-sentidos. De esta forma, es posible conformar guías para la acción y encontrar en los actores ciudadanos de comunicación, la conformaciónde un capital social para la democracia.

  14. The Genesis of Capitalism

    DEFF Research Database (Denmark)

    Li, Xing

    2004-01-01

    foremost a transformative process involving political repercussions as being dealt with here (enforced variation, reshaping, selection and distortion). In sum, the paper intends to problematize the significance of the evolutionary explanation, the culturalist approach as well as the economistic...... (historical, divine, spiritual, miraculous), the establishment of capitalism is less the result of a force for cultural and economic dynamism than the realization of a political project. In other words, from being an enterprise within defined geographical boundaries to becoming a global project is first and...

  15. Contratos de capital humano

    Directory of Open Access Journals (Sweden)

    Oscar Alejandro Goyes Viteri

    2005-01-01

    Full Text Available Este documento busca dar a conocer el tema de la inversión en capital humano a través de la celebración de contratos atípicos y utilizando la fiducia mercantil y la titularización como vehículos financieros. Por medio de estos contratos un estudiante obtiene los recursos que requiere para financiar su educación superior, a cambio de entregar un porcentaje de sus ingresos después de su graduación a quien financió la operación.

  16. Contratos de capital humano

    OpenAIRE

    Oscar Alejandro Goyes Viteri

    2005-01-01

    Este documento busca dar a conocer el tema de la inversión en capital humano a través de la celebración de contratos atípicos y utilizando la fiducia mercantil y la titularización como vehículos financieros. Por medio de estos contratos un estudiante obtiene los recursos que requiere para financiar su educación superior, a cambio de entregar un porcentaje de sus ingresos después de su graduación a quien financió la operación.

  17. Developing Moral Capital in Schools

    OpenAIRE

    Çelik, Vehbi; Mevlana Üniversitesi, Eğitim Fakültesi, Eğitim Bilimleri Bölümü

    2014-01-01

    An abundance of models and approaches have been formed to develop school effectiveness. Schools have been analyzed with respect to psychological, sociological, cultural and administrative dimensions. Social and cultural capitals- as the recently developed nonmonetary forms of capital-have been investigated with respect to school organizations. Nonetheless so far there has been no in-depth research on moral capital in schools as an original concept. In the present research, the concept of mora...

  18. Worker Remittances and Capital Flows

    OpenAIRE

    Buch, Claudia M; Kuckulenz, Anja; Le Manchec, Marie-Helene

    2002-01-01

    The debate on the risks and benefits of the globalisation of international capital markets has focused on the volume and the volatility of the main capital flows — foreign direct investment (FDI), portfolio investment, and foreign bank lending. Financial transfers in the form of worker remittances have received less attention in this context. This paper provides an analysis on the magnitude of remittances, their volatility, and their relationship to other capital flows. Moreover, we provide ...

  19. Re-Thinking Social Capital

    Directory of Open Access Journals (Sweden)

    Zlatko Bukač

    2011-06-01

    Full Text Available The concept of social capital has been used very often in sociological researches over the last two decades. Measuring social capital in civil society, neighborhoods and educational systems is merely a part of its popular usage. Many sociologists tend to use the concept of social capital very freely and therefore expand the definition of social capital. The author’s personal experience indicates that there have been a great number of academic discussions, research planning and public speeches implementing the notion of social capital without taking a detailed consideration of what that concept truly entails. By overviewing the available literature on social capital, it is actually no wonder that both sociologists and the noted concept were in this confusing situation. As Field stated in his book Social Capital (Key Ideas, published in 2008, his work was “the first attempt to provide an extended introduction on increasingly influential concept of social capital” (Field 1. Quibria notes that even though there is a vast number of research conducted on social capital in many academic fields and with various approaches ‘the concept of social capital remains largely elusive’’(1. That obviously is not an obstacle because there is a constantly growing interest in social capital. A vast body of research concerning, measuring, and defining social capital is available today, which helps a researcher to analyze and compare all of the perspectives concerning social capital. This can be of great importance when researchers approach a somewhat new subject of research such as online communication and, more specifically, online games.

  20. Crises and human capital accumulation

    OpenAIRE

    Freddy Heylen; Lorenzo Pozzi

    2007-01-01

    This paper studies the effects of crises on human capital formation. Theoretically, a crisis undermines total factor productivity, which reduces the return to working and to accumulating physical capital. If the crisis is temporary, young agents will study now and work later. Human capital rises. To test our model we rely on inflation crises as our main empirical proxy. Using GMM panel procedures, our analysis for 86 countries in 1970-2000 confirms the positive effects of crises on human capi...

  1. APPLICATIONS OF SOCIAL CAPITAL THEORY

    OpenAIRE

    Schmid, A. Allan; Robison, Lindon J.

    1995-01-01

    Experiments and studies were conducted to investigate the role of social capital. Social capital (relationship to others) is a productive asset which is a substitute for and complement to other productive assets. The productivity of social capital leads to the expectation that firms and individuals invest in relationships. Data were collected to answer the following questions: Does the identity (relationship) of trading partners affect selling and buying prices; the acceptance of catastrophic...

  2. Capitalism and African business cultures

    OpenAIRE

    Taylor, Scott D.

    2014-01-01

    Scholars and practitioners once commonly linked 'African culture' to a distinctive 'African capitalism', at odds with genuine capitalism and the demands of modern business. Yet contemporary African business cultures reveal that a capitalist ethos has taken hold within both state and society. The success and visibility of an emergent, and celebrated, class of African big business reveals that business and profit are culturally acceptable. Existing theories of African capitalism are ill-equippe...

  3. Capital Flows and Central Banking

    OpenAIRE

    Gupta, Poonam

    2016-01-01

    Because of the steady liberalization of the capital account since the early 1990s and increased financial integration of the Indian economy, capital flows to India have moved in tandem with broad global trends. This paper looks at the extent to which India’s monetary policy has been affected by the ebbs and flows of the capital it receives. For ease of narration, the paper divides the post...

  4. Venture Capital and Innovation Strategies

    OpenAIRE

    Da Rin, M.; Penas, M.F.

    2015-01-01

    Venture capital is a specialized form of financial intermediation that often provides funding for costly technological innovation. Venture capital firms need to exit portfolio companies within about five years from the investment to generate returns for institutional investors. This paper is the first to examine the association of venture capital funding with a company’s choice of innovation strategies. We employ a unique dataset of over 10,000 innovative Dutch companies, some of which receiv...

  5. Human Capital and Genetic Diversity

    OpenAIRE

    Sequeira, Tiago; Santos, Marcelo,; Ferreira-Lopes, Alexandra

    2013-01-01

    The determinants of human capital have been studied sparsely in the literature. Although there is a huge literature on the determinants of schooling linked with the quality of schooling, there are not many contributions that explore the deep determinants of investment in, quantity and quality of human capital. This paper investigates the relationship between human capital and the ancestral genetic diversity of populations. It highlights a strong hump-shaped relationship between genetic divers...

  6. EUROPEAN VENTURE CAPITAL MARKET CHARACTERIZATION

    OpenAIRE

    Félix, Elisabete Gomes Santana

    2005-01-01

    In this work it was intended to carry through an analysis of the European venture capital market in the last eight years. Also it was done a summary of the venture capital industry history, carrying through a comparison between U.S.A. and Europe. In the European venture capital market analysis it was pointed out aspects about the investment totals, fundraising, investors types and investments types. Among others conclusions, it was found that the banks and pension funds are the main sup...

  7. A Capital Adequacy Buffer Model

    OpenAIRE

    David Allen; Michael McAleer

    2013-01-01

    In this paper, we develop a new capital adequacy buffer model (CABM) which is sensitive to dynamic economic circumstances. The model, which measures additional bank capital required to compensate for fluctuating credit risk, is a novel combination of the Merton structural model which measures distance to default and the timeless capital asset pricing model (CAPM) which measures additional returns to compensate for additional share price risk.

  8. 77 FR 52977 - Regulatory Capital Rules: Advanced Approaches Risk-Based Capital Rule; Market Risk Capital Rule

    Science.gov (United States)

    2012-08-30

    ... must assume a margin period of risk under the IMM of 20 business days for netting sets where: (1) The... Regulatory Capital Rules: Advanced Approaches Risk-Based Capital Rule; Market Risk Capital Rule; Proposed... 325 RIN 3064-AD97 Regulatory Capital Rules: Advanced Approaches Risk-Based Capital Rule; Market...

  9. Social Capital and Economic Growth

    OpenAIRE

    Reino Hjerppe

    1998-01-01

    It is argued in order to explain large differences in the level of the development and the growth of economies cannot be adequately explained only by looking the traditional inputs of labour, capital and natural resources. The hypothesis is that also the role of social capital needs to be taken into account. First the concept of social capital is defined and discussed. Then the role of social capital in the development process is explained. Empirical test based on the cross-country data of 27...

  10. Exploring the social capital grid

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Patulny, Roger

    2007-01-01

    The purpose of this paper is to show that numerous studies have advanced social capital research over the past decade. Most studies have accepted the theoretical distinction between bonding and bridging social capital networks. Many, however, tend to agglomerate empirical research under the one...... catch-all social capital concept, rather than classifying it according to the bonding/bridging distinction. Furthermore, most studies make little distinction on the basis of methodology, between qualitative and quantitative approaches to investigating social capital. These omissions need to be addressed....

  11. MODELS OF CAPITAL COSTS QUANTIFICATION

    OpenAIRE

    Tomáš KLIEŠTIK; Katarína VALÁŠKOVÁ

    2013-01-01

    The present contribution deals with the quantification of capital costs. The contribution is written on a theoretical basis. The costs will be particularly quantified in financing only by equity and only by debt capital and particularly in the so-called mixed financing in which weighted average costs of capital will be quantified. The cost of capital can be seen from three different perspectives: in the assets part of a company, in the liability part of a company and in the part of potential ...

  12. Building A Venture Capital Index

    OpenAIRE

    Liang Peng

    2001-01-01

    This paper builds a venture capital index from 1987 to 1999 that consists of 12,946 rounds of venture financing with 5,643 venture-backed firms. The paper uses two innovative techniques, a re-weighting procedure and a method of moment repeat sales regression, to mitigates three problems - missing data, censored data, and sample selection. We report the time series of capital flows, net asset value, and returns of the venture capital index. We find that the venture capital industry experienced...

  13. A PANEL REGRESSION ANALYSIS OF HUMAN CAPITAL RELEVANCE IN SELECTED SCANDINAVIAN AND SE EUROPEAN COUNTRIES

    Directory of Open Access Journals (Sweden)

    Filip Kokotovic

    2016-06-01

    Full Text Available The study of human capital relevance to economic growth is becoming increasingly important taking into account its relevance in many of the Sustainable Development Goals proposed by the UN. This paper conducted a panel regression analysis of selected SE European countries and Scandinavian countries using the Granger causality test and pooled panel regression. In order to test the relevance of human capital on economic growth, several human capital proxy variables were identified. Aside from the human capital proxy variables, other explanatory variables were selected using stepwise regression while the dependant variable was GDP. This paper concludes that there are significant structural differences in the economies of the two observed panels. Of the human capital proxy variables observed, for the panel of SE European countries only life expectancy was statistically significant and it had a negative impact on economic growth, while in the panel of Scandinavian countries total public expenditure on education had a statistically significant positive effect on economic growth. Based upon these results and existing studies, this paper concludes that human capital has a far more significant impact on economic growth in more developed economies.

  14. Social Capital, Value, and Measure: Antonio Negri's Challenge to Capitalism.

    Science.gov (United States)

    Day, Ronald E.

    2002-01-01

    Considers one concept in knowledge management, that of social capital, focusing on the problem of measure and value in capitalism, specifically within the period and conditions of post-Fordist production. Discusses the work of Antonio Negri and suggests the importance of knowledge management as a symptom of a turn in political economy. (Author/LRW)

  15. Human capital and optimal positive taxation of capital income

    NARCIS (Netherlands)

    B. Jacobs (Bas); A.L. Bovenberg (Lans)

    2010-01-01

    textabstractThis paper analyzes optimal linear and non-linear taxes on capital and labor incomes in a life-cycle model of human capital investment, financial savings, and labor supply with heterogenous individuals. A dual income tax with a positive marginal tax rate on not only labor income but also

  16. Comprehensive wealth, intangible capital, and development

    OpenAIRE

    Ferreira, Susana; Hamilton, Kirk

    2010-01-01

    Existing wealth estimates show that in most countries intangible capital is the largest share of total wealth. Intangible capital is calculated as the difference between total wealth and tangible (produced and natural) capital. This paper uses new estimates of total wealth, natural capital, and physical capital for a panel of countries to shed light on the constituents of the intangible ca...

  17. Growth Strategy with Social Capital and Physical Capital

    OpenAIRE

    Le Van, Cuong; Nguyen, Anh Ngoc; Nguyen, Ngoc-Minh

    2014-01-01

    Dans ce papier, nous étudions l'impact du capital social dans un modèle simple à la fois théorique et empirique. L'hypothèse cruciale est que le coût du capital physique, grâce aux contacts sociaux diminue par rapport aux dépenses en capital social. Dans le modèle théorique, nous montrons qu'il existe un seuil critique de l'épargne destinée aux dépenses en capital social. Les firmes dont l'épargne est inférieur à ce seuil ne vont pas investir en capital social. Nous montrons de plus que les p...

  18. Measuring the relationship between income and NHEs (national health expenditures).

    Science.gov (United States)

    Moore, W J; Newman, R J; Fheili, M

    1992-01-01

    This article uses recently published time series data for the Organization for Economic Cooperation and Development countries to estimate income elasticities for health care expenditures. Several different models and alternative specifications are examined to determine the sensitivity and robustness of the estimated relationships. Income is the dominant-determinant of health care spending and longrun income elasticity for health care is significantly greater than unity. This implies that health care is a luxury good, and expenditures will tend to rise with the level of national income. There is little evidence that the degree of public finance reduces the level of health care expenditures. PMID:10124434

  19. Aggregate Import Demand and Expenditure Components in Ghana

    Directory of Open Access Journals (Sweden)

    Oteng-Abayie E. Fosu

    2008-01-01

    Full Text Available The behaviour of Ghana’s imports during the period 1970-2002 was studied using disaggregated expenditure components of total national income. We used newly developed bounds testing approach to cointegration and estimated an error correction model to separate the short- and long-run elements of the import demand relationship. The study revealed inelastic import demand for all the expenditure components and relative price. In the long-run, investment and exports were the major determinant of movements in imports in Ghana. In the short run household and government consumption expenditures was the major determinant of import demand. Import demand was not very sensitive to price changes.

  20. 12 CFR 565.4 - Capital measures and capital category definitions.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Capital measures and capital category... PROMPT CORRECTIVE ACTION § 565.4 Capital measures and capital category definitions. (a) Capital measures. For purposes of section 38 and this part, the relevant capital measures shall be: (1) The total...