Electricity market reforms : institutional developments, investment dynamics and game modeling (Finland)

Energy Technology Data Exchange (ETDEWEB)

Pineau, P.-O.

2001-07-01

During the 1990s, there was a definite trend to reform the electric power industry from the way in which it operated a century ago. The reform does not try to totally remove regulation. Rather, the basic objective is to limit central and governmental control over the industry so that free competition can be encouraged at all possible levels. This thesis tried to understand the status of deregulatory reforms and reviews how different countries and large utilities have reacted to the trend. Electricity is particular in that it is a non-storable basic good that is centrally produced. Compared to other industries such as the airline or telecommunication industry, this special nature creates barriers in the restructuring of power markets. An issue that is emerging with deregulation is that national energy policy goals no longer determine the behaviour of utilities. This will impact on how investments will be coordinated in the new market. A major factor to keep in mind is the competition level sought by these reforms. It is not yet known to which extent full competition can really occur in electricity markets. The oligopolistic structure of the market may even prevent such an outcome. It is important to examine the investment dynamics in such a context. This was the primary theme of the thesis. The two complementary approaches used included an example of an institution and its economic arguments that support market reform. A detailed example of the reform process in the electricity market in Finland was presented. The second approach was more analytical and was based on the market equilibria that may occur as a result of market reform. A dynamic model of investment for the power market was again applied to the electricity market in Finland.

Electricity market reforms: Institutional developments, investment dynamics and game modeling

Science.gov (United States)

Pineau, Pierre-Olivier

The reform trend of the 1990's in electricity markets recreates, to some extent, the institutional framework from which they developed one century ago. Although these reforms do not endeavor to completely remove regulation, the basic objectives of deregulation dwell on limiting central and governmental control over the industry in order to promote free competition at all possible levels. To assess whether the electricity industry is or is not moving back to a 19th century structure is not the goal of this thesis. We will rather try to understand on what grounds deregulation reforms stand and review how different countries and large utilities have reacted to this trend. The special nature of electricity (non-storable basic good, centrally produced) creates different obstacles in the restructuring of electricity markets, compared to other industries like the airline or telecommunication ones. For example, the dominant positions of some utilities, the production structure and the importance of electricity in modern life could transform these reforms in a threatening move for consumers. Another specific issue arising from deregulation, now that national energy policy goals no longer rule the behavior of utilities, is how investment will be coordinated in the new market. A key element to keep in sight is the competition level targeted by these reforms. To which extent full competition can really occur in electricity markets remains an unanswered question. Indeed, the oligopolistic structure of the market could prevent such an outcome. An investigation of the investment dynamics in such a context seems therefore appropriate, and this will be an important theme of the thesis. This work offers an analysis of deregulated electricity markets and studies the oligopolistic market dynamics that could prevail in the new structure. Two complementary approaches are used for these purposes. The first is institutional and presents a thorough illustration of the economic arguments

Growth in HMO share of the Medicare market, 1989-1994.

Science.gov (United States)

Welch, W P

1996-01-01

Between 1989 and 1994 the health maintenance organization (HMO) share of the Medicare market grew rapidly. It is still heavily concentrated geographically, however. The most influential factor in this growth is HMO penetration into an area's general health care market. Medicare payment rates and prior Medicare HMO penetration also have an impact, but their effects are much weaker. Thus, payment rate reform is likely to have only a modest impact on Medicare HMO growth in the short term. In the longer term, the HMO share of the Medicare market will continue to grow, because HMO penetration in the general health care market is growing rapidly.

Market reforms and 'Economic miracle' in Kazakhstan

Directory of Open Access Journals (Sweden)

Simon György

2009-01-01

Full Text Available Kazakhstan's postcommunist transition is characterized by gradual changes under the conditions of a limited democracy. These changes have embraced extensive price and trade liberalization, and resolutely promoted privatization and the building of market institutions, although structural reforms and the struggle against corruption have made little progress. The country's financial independence was established with the introduction of the tenge in 1993. Transformational recession reached its maximum in 1995, since when only the 1998 Asian and Russian crises have interrupted continuous growth. However, the Kazakh economy is very sensitive to fluctuations in world energy and mineral prices, as the extractive industries, primarily oil and gas, have a crucial role in its development.

Health insurance reform and HMO penetration in the small group market.

Science.gov (United States)

Buchmueller, Thomas C; Liu, Su

This study uses data from several national employer surveys conducted between the late 1980s and the mid-1990s to investigate the effect of state-level underwriting reforms on HMO penetration in the small group health insurance market. We identify reform effects by exploiting cross-state variation in the timing and content of reform legislation and by using mid-sized and large employers, which were not affected by the legislation, as within-state control groups. While it is difficult to disentangle the effect of state reforms from other factors affecting HMO penetration in the small group markets, the results suggest a positive relationship between insurance market regulations and HMO penetration.

Emerging Markets: Theory & Practice / Turkey’s Reforms Post 2001 Crisis

Directory of Open Access Journals (Sweden)

Duygu Uckun

2010-01-01

Full Text Available The global financial downturn of 2001 affected broad swaths of the increasingly interconnected global economy. The global effects of the economic downturn in the U.S. in 2008 showed that decoupling had not occurred to the extent many thought, and showed that indeed emerging market countries, including Turkey, were not immune from economic trouble in America. This paper addresses the question, whether the fiscal, financial, and regulatory reforms in Turkey after the 2001 economic crisis cushion the global financial crisis world is facing toward the end of the decade. In doing so we analyze the policies implemented by Turkey before and after the 2001 global economic crisis and identify the successes as well as failures of those reforms. The results of our research show that despite significant reforms in key economic and regulatory areas in the post-2001 crisis period, vulnerabilities remained; especially concerning the large current account deficit, volatility of exchange rates, increased private sector indebtedness, and persistent unemployment. These vulnerabilities will be visible in the deteriorating liquidity conditions in the global financial markets. We conclude by recommending infrastructure, education and health spending as well as restructuring of the economy to further attract FDI and avoid reliance on speculative foreign capital in order to achieve a more balanced and sustained growth in the long run.

The reform of the Swedish electricity market

International Nuclear Information System (INIS)

Petsala, B.

1995-01-01

The objective of the ongoing reform of deregulation of the electricity market in Sweden is to create and improve the prerequisites for more efficient use of the generation and distribution, thus bringing about a more efficient price building. Similar reforms take place in the other Nordic countries. As a result of these changes the possibilities for international trade in electricity increases considerably. Tendencies towards concentration of production and distribution as well as increased vertical integration make it important for the State to monitor the development and if necessary suggest measures to counteract possible undesired effects. The national character of the former electricity market does no longer constitute a restriction to trade and the power companies already operate in each other's market. (author). 2 figs., 4 tabs., 6 refs

Impacts Of Electricity Market Reform And Non-Reform Factors On Technology Uptake: Philippines

International Nuclear Information System (INIS)

2016-01-01

Structure and ownership: The first phase of the reform (1992–2000) encouraged private participation in the generation segment. By 1998, foreign-owned IPPs accounted for around 4800 MW of generating capacity. During the 1990s, over 90% of the new capacity was built by foreign-owned IPPs [86]. In the second phase of the reform (2001 to present), the vertically integrated electricity utility was unbundled, regulatory arrangements including open access to network services were developed and the WESM was created. These changes further promoted private participation in the power sector. Price signals generated from the competitive electricity market act as the main driving force to make new investments in generation. Besides, the pressure from market competition pushes investors to select the most efficient and advanced generating technologies to meet growing demand. In the Visayas region, for example, rapid growth in electricity demand drove up electricity prices, which attracted private investors to build three new coal fired power plants in 2010 and 2011. These plants use low cost and highly efficient circulating fluidized bed technology. Regulatory arrangements: The EPIRA of 2001 established the ERC to promote competition, encourage market development, ensure customer choice and penalize abuse of market power in the electricity industry. The ERC is also mandated by law to maintain a level playing field in the competitive sectors (generation and supply) and to regulate the transmission and distribution sectors. The EPIRA also mandates the ERC to enforce market share limitations wherein no generation company can own, operate or control more than 30% of the total installed generating capacity of a grid and/or more than 25% of the total national installed capacity. The ERC must also ensure that before a generation company can operate and supply power, it must secure a certificate of compliance with all the appropriate licences or clearances (health, environment and

Financial Market Implications of India’s Pension Reform

OpenAIRE

Helene Poirson Ward

2007-01-01

India's planned pension reform will set up a proper regulatory framework for the pension industry and open up the sector to private fund managers. Drawing on international experiences, the paper highlights pre-conditions for the reform to kick-start financial development, including: (i) the buildup of critical mass; (ii) sufficiently flexible investment guidelines and regulations, including on investments abroad; and (iii) concurrent reforms in capital markets. Given the limited scale of the ...

The role of independent agents in the success of health insurance market reforms.

Science.gov (United States)

Hall, M A

2000-01-01

The impact of reforms on the health insurance markets cannot be understood without more information about the role played by insurance agents and a closer analysis of their contribution. An in-depth, qualitative study of insurance-market reforms in seven illustrative states forms the basis for this report on how agents help to shape the efficiency and fairness of insurance markets. Different types of agents relate to insurers in their own ways and are compensated differently. This study shows agents to be almost uniformly enthusiastic about guaranteed-issue requirements and other components of market reforms. Although insurers devise strategies for manipulating agents in order to avoid undesirable business, these opportunities are limited and do not appear to be seriously undermining the effectiveness of market reforms. Despite the layer of cost that agents add to the system, they play an important role in making market reforms work, and they fill essential information and service functions for which many purchasers have no ready substitute.

Latin America: market mechanisms and supply adequacy in power sector reforms

Energy Technology Data Exchange (ETDEWEB)

Hammons, T.J. [University of Glasgow, Glasgow (United Kingdom); Barroso, L.A. [PSR, Rio de Janeiro (Brazil); Rudnick, H. [Pontificia Universidad Catolica de Chile, Santiago (Chile)

2011-03-15

The process of transformation in government and operations in the power sector leads to interaction between increasing integrated markets and public agencies in charge of policy making, regulation and control. This is examined for Latin America where state and marketing power sector planning, contract auctions to assure supply adequacy in an uncertain market environment, cross-border contracts, financing challenges for generation investments, and auctions of contracts to secure supply adequacy in the second stage of power sector reform are discussed. First, the state and market in power sector planning reform and state policies in Latin America are considered. Here, present concerns; the state-market relationship (the position of regulation, globalisation, internationalisation), and state market in the energy sector (correction and adjustments) are reviewed. Case studies for Argentina and Brazil are briefly outlined. The paper then examines contract auctions to assure supply adequacy in an uncertain energy environment that are being explored to face supply problems over recent years in the Chilean electricity market, taking into account the unexpected restrictions in natural gas transfers from Argentina. Also discussed are supply adequacy mechanisms and cross-border contracts in the Central American regional electricity market including firm transmission rights and financing challenges for generation investments. The final part of the paper discusses auctions of contracts and energy call options to ensure supply adequacy in the Brazilian power sector reform. Here, first stage of power sector reform, what went wrong, the second stage of reform and the move towards energy supply auctions, energy supply auctions so far and what's next in the challenges of environmental constraints and electricity-gas integration are reviewed. The reform being proposed to the electric regulatory framework for wholesale transactions in Peru is also reviewed. Considered are bids for

Russian electricity market reform: Deregulation or re-regulation?

International Nuclear Information System (INIS)

Gore, Olga; Viljainen, Satu; Makkonen, Mari; Kuleshov, Dmitry

2012-01-01

Russia commenced liberalization of electricity prices in 2007 increasing the liberalization rate by 10–25% every six months. It was planned to reach full liberalization by 2011. Currently, the degree of liberalization is uncertain because of intense price regulation and a highly concentrated market in the hands of four large generating companies. Increased regulation and further consolidation may drive the market towards its pre-reform state. This paper analyses the competitive landscape of the Russian electricity market by assessing the ownership structure of electricity generation, price drivers, and government involvement in the electricity wholesale market in Russia. The main research question is why the targeted level of market liberalization has not been fully achieved in the Russian electricity market. - Highlights: ► Congested grid; deficit of capacity and market concentration hinder competition. ► Investment needs of the power sector led to price shocks. ► Price increase and poor competition force the government to regulate prices. ► Low liberalization rate and non-cost-reflective pricing is a result of price regulation. ► Increased regulation and consolidation drive the market toward its pre-reform state.

Lithuanian way of reforms to electricity market

International Nuclear Information System (INIS)

Bacauskas, A.

2002-01-01

Lithuania has inherited a structure of the energy industry, which originally has been developed not for the country, as an independent state, but according to the provisions of the former USSR energy policy, covering energy demand of whole region, including the Baltic countries, Belarus and the Kaliningrad region of Russia. The Lithuanian power system is interconnected by high voltage power lines and operates in parallel with Latvian, Estonian, Russian and Belarus power systems. During twelve years of independence the power sector passed significant changes from a vertically integrated monopoly to some separate power companies and meets EU requirements to an internal electricity market. The main issues of reforms: transparency of costs, commercial relations in power sector, fulfilment of the Electricity Directive 96/92/EU. The Lithuanian electricity market is small and inefficient. Current reforms of a power sector are directed to create the common Baltic electricity market. (author)

The market effectiveness of electricity reform: A case of carbon emissions trading market of Shenzhen city

Science.gov (United States)

Wang, Yongli; Wang, Gang; Zuo, Yi; Fan, Lisha; Xiao, Yao

2017-03-01

In the 13th Five-Year Plan, the Chinese government proposed to achieve the national carbon emission trading market established by 2017. The establishment of carbon emission trading market is the most important one in power reform, which helps to promote the power reform and achieve the goal of energy saving and emission reduction. As the bond of connecting environment energy issues and the economic development, carbon emissions trading market has become a hot research topic in the related fields, by market means, it incentive the lower cost subject emissions to undertake more reductions and therefore to benefit, the body of the high cost finished the task by buying quota reduction, to achieve the effect of having the least social total cost. Shenzhen has become the first city in China to start carbon trading pilot formally on June 16, 2013, online trading on June 18. The paper analyzes the market effectiveness of electricity reform in China, which takes carbon emissions trading market of Shenzhen city for example, and gives some suggestions for future development.

75 FR 28004 - Credit Reforms in Organized Wholesale Electric Markets; Notice Establishing Date for Comments

Science.gov (United States)

2010-05-19

... Proposed Rulemaking on Credit Reforms in Organized Wholesale Electric Markets.\\1\\ Specifically, the... counterparty to transactions in their markets \\1\\ Credit Reforms in Organized Wholesale Electric Markets, 130... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. RM10-13-000] Credit Reforms...

Curriculum reform and the market

DEFF Research Database (Denmark)

Petersen, Karen Bjerg

2011-01-01

A neo-liberal discourse in the 2000s has been prevalent not only in international and Danish educational policy contexts, but also within a specific area, namely the education of adult immigrants in Denmark. With the adoption of a new law in 2003 high-stakes testing, standards, new market economy...... in Denmark. Based on studies of curriculum reform and research about headmasters’ and teachers’ attitudes the article addresses paradoxes rising in the wake of the neo-liberal education policy. Despite the intention of high-stakes testing to increase adult migrants’ language and employment related....... Teachers furthermore find the new working conditions stressing. It is discussed whether a neo-liberal discourse in adult teaching is ‘dumping down’ the intentions of curriculum and education reform....

Curriculum reform and the market

DEFF Research Database (Denmark)

Petersen, Karen Bjerg

2012-01-01

A neo-liberal discourse in the 2000s has been prevalent not only in international and Danish educational policy contexts, but also within a specific area, namely the education of adult immigrants in Denmark. With the adoption of a new law in 2003 high-stakes testing, standards, new market economy...... in Denmark. Based on studies of curriculum reform and research about headmasters’ and teachers’ attitudes the article addresses paradoxes rising in the wake of the neo-liberal education policy. Despite the intention of high-stakes testing to increase adult migrants’ language and employment related....... Teachers furthermore find the new working conditions stressing. It is discussed whether a neo-liberal discourse in adult teaching is ‘dumping down’ the intentions of curriculum and education reform....

Post-neoliberal electricity market 're-reforms' in Argentina. Diverging from market prescriptions?

International Nuclear Information System (INIS)

Haselip, James; Potter, Clive

2010-01-01

This paper focuses upon the policy and institutional change that has taken place within the Argentine electricity market since the country's economic and social crisis of 2001/2. As one of the first less developed countries (LDCs) to liberalise and privatise its electricity industry, Argentina has since moved away from the orthodox market model after consumer prices were frozen by the Government in early 2002 when the national currency was devalued by 70%. Although its reforms were widely praised during the 1990s, the electricity market has undergone a number of interventions, ostensibly to keep consumer prices low and to avert the much-discussed energy 'crisis' caused by a dearth of new investment combined with rising demand levels. This paper explores how the economic crisis and its consequences have both enabled and legitimised these policy and institutional amendments, while drawing upon the specifics of the post-neoliberal market 're-reforms' to consider the extent to which the Government appears to be moving away from market-based prescriptions. In addition, this paper contributes to sector-specific understandings of how, despite these changes, neoliberal ideas and assumptions continue to dominate Argentine public policy well beyond the postcrisis era. (author)

Public Sector Reforms: New Public Management without Marketization?

DEFF Research Database (Denmark)

Löfgren, Karl; Pedersen, John Storm

2012-01-01

Is it possible to imagine New Public Management without marketization? In Denmark the present liberal-conservative Government has, throughout its 10 years in power, designed and implemented more than 15 major management reforms in the public sector. Although most of the reforms are rhetorically...... firmly rooted in neo-liberal ideologies they have, in practice, promoted tools and mechanisms of the “traditional,” or Old, Public Management. Based on an empirical study of the reforms, we suggest that the notion of “pragmatic” New Public Management is introduced to enhance the current understanding...... of New Public Management in the Western industrialized societies....

Multilateral market-access reforms of the Doha Round

DEFF Research Database (Denmark)

Yu, Wusheng; Jensen, Hans Grinsted

members such as the US. This paper provides a preliminary assessment of the likely impact of the tiered-formula reform approach on EU agricultural sectors. Numerical simulations of a multilateral market-access reform scenario show that such cuts would lead to across-the-board decreases in intra-EU trade...... external trade surpluses in many EU agricultural products. Further, the resulting adjustments in member states’ production and net trade positions are not equal: the new member states would generally lose part of their export shares in the EU market to external competitors, as highlighted in the cases......The July package of the Doha Round of trade negotiations stipulates that a tiered-formula approach should be used to significantly reduce market access barriers across countries, implying that the EU would have to make larger cuts to its high external tariffs, in comparison with many other WTO...

Corporate Ownership Reform and Foreign Market Entry of Emerging Market Firms

DEFF Research Database (Denmark)

Li, Ming Hua; Cui, Lin; Lu, Jiangyong

2013-01-01

an extended FSA framework incorporating the dynamics of organizational ambiguity to analyze EM firms’ internationalization behavior. We validate our model by conducting an empirical study of 973 publicly listed Chinese firms spanning 8 years from 2002-2009. The findings suggest that various types of reformed......Few studies have examined the effects of corporate ownership reform on emerging market firms’ advantages and capabilities for outward FDI. By linking the implications of such reform to the configuration of resources, organizational attributes, and strategic orientation of firms we advance...... shareholding have different effects on firms’ proclivity for outward FDI. We also find evidence of synergies and misalignments between ownership derived FSAs and other firm specific organizational features including foreign managerial experience and business group affiliation....

Land Reform and Farm Land Rental Market Operation in the Northern Uplands of Vietnam

Directory of Open Access Journals (Sweden)

Nguyen Trung THANH

2009-01-01

Full Text Available This paper examines the factors affecting the participation of farmhouseholds in farm land rental markets with particular focus on the impact ofthe land reform. The operational outcomes of such market participation are alsoanalysed. The study used a panel dataset of farm households surveyed beforeand after the land reform with Random Effect Tobit model. The analysisshowed that the land reform have contributed to increased land rentalparticipation. The operation of the market has both efficiency and equityoutcomes. Therefore, constraints to functioning of land rental market aredifficult to justify. In other words, farm land rental should be promoted to bringsuch desirable outcomes.

Market reforms and public incentives: finding a balance in the Republic of Macedonia.

Science.gov (United States)

Nordyke, Robert J; Peabody, John W

2002-03-01

The Republic of Macedonia is undertaking sweeping reforms of its health sector. Funded by a World Bank credit, the reforms seek to improve the efficiency and quality of primary health care (PHC) by significantly strengthening the role of the market in health care provision. On the supply-side, one of the key reform proposals is to implement a capitation payment system for PHC physicians. By placing individual physicians on productivity-based contracts, these reforms will effectively marketize all PHC provision. In addition, the Ministry of Health is considering the sale or concessions of public PHC clinics to private groups, indicating the government's commitment to marketization of health care provision. Macedonia is in a unique position to develop a new role for the private sector in PHC provision. The private provision of outpatient care was legalized soon after independence in 1991; private physicians now account for nearly 10% of all physicians and 22% of PHC physicians. If the reforms are fully realized, all PHC physicians-over 40% of all physicians-will be financially responsible for their clinical practices. This study draws on Macedonia's experience with limited development of private outpatient care starting in 1991 and the reform proposals for PHC, finding a network of policies and procedures throughout the health sector that negatively impact private and public sector provision. An assessment of the effects that this greater policy environment has on private sector provision identifies opportunities to strategically enhance the reforms. With respect to established market economies, the study finds justification for a greater role for government intervention in private health markets in transition economies. In addition to micro-level payment incentives and administrative controls, marketization in Central and Eastern Europe requires an examination of insurance contracting procedures, quality assurance practices, public clinic ownership, referral

Ignoring the Market.

Science.gov (United States)

Chubb, John E.

2003-01-01

Argues that market-driven education (charter schools, vouchers) is the most effective, albeit overlooked, reform strategy since publication of "A Nation at Risk." Describes corresponding growth of for-profit school management. Offers several recommendations to improve effectiveness of market-based reforms, such as state' continuing…

Reforming minute reserve policy in Germany. A step towards efficient markets?

International Nuclear Information System (INIS)

Rammerstorfer, Margarethe; Wagner, Christian

2009-01-01

The present paper provides an empirical assessment of the effects associated with the reorganization of minute reserve markets in Germany. As the aim of the regulator is to assure a competitive market with transparent pricing, we analyze whether the recent policy reform has had an impact on the dynamics of minute reserve prices. Our results show that the level and volatility of positive and negative minute reserve prices decreased substantially. Furthermore, we provide evidence that the degree of integration between reserve and spot markets has increased. Overall, prices reacted to the policy change in a manner that is in line with the regulator's objective. The reform can thus be viewed as a step towards an efficient reserve market. (author)

Russian electricity reform. Emerging challenges and opportunities

Energy Technology Data Exchange (ETDEWEB)

NONE

2005-07-01

The Russian Government is pursuing a strategy of very high economic growth, with the objective of doubling gross domestic product in ten years. It recognises the central role the electricity sector has to play to achieve this target and has embarked on a highly ambitious program of electricity reform. If it is to succeed, the reform program will have to create market structures, market rules and a regulatory framework that will foster competitive wholesale and retail electricity markets. At the same time, it will have to deal with sensitive social issues related to tariff rebalancing and the removal of cross subsidies. Only competitive markets based on transparent prices that reflect costs can deliver the efficient, reliable and internationally competitive performance needed to meet the government's economic targets. Such markets are essential to attract new investment that will be required to ensure security of electricity supply after 2010. This book focuses on key aspects of the proposed reform that could have an important bearing on its success. It also raises concerns as to the pace of reform in related areas, such as the need for complementary reforms in the Russian natural gas sector. The IEA commends the Russian Government on its efforts to embrace this electricity reform - a key element critical to meeting the challenges ahead in terms of its economic growth and energy security. 17 figs., 10 tabs., 3 maps.

Assessing the Significance of Telecommunication Deregulation on the Growth of Japan's Mobile Phone Market

OpenAIRE

Yuqing Xing

2001-01-01

This paper analyzes the development of Japan's mobile phone market. Specifically, it focuses on the regulatory reforms of Japan's mobile communication sector and their impact on the growth of the market. The analysis based on a monopolistic competition model shows that the deregulation policies perform an essential role in fostering the rapid expansion of Japan's mobile phone market. Using quarterly data from 1991 to 1999, the paper tests the significance of the telecommunication deregulation...

The Impact of Market Reform Programmes on Coffee Prices in ...

African Journals Online (AJOL)

(ICA) and liberalization of coffee marketing in Tanzania on coffee prices. The motivation for this ... indirect effects of market reforms on the level of prices, their variance ..... This strategy could be achieved through dedicated support to farmers to ...

Rethinking capital markets reform: a reassessment of Olson problem and regulatory dualism in the German capital markets from a varieties of capitalism perspective

Directory of Open Access Journals (Sweden)

André Ziccardi de Carvalho

2015-09-01

Full Text Available Since its proposition by Peter A. Hall and David Soskice the Varieties of Capitalism (VoC approach has been particularly important to explain the relationship between economic agents and sets of institutional arrangements that, even in regulatory scenarios that Law and Finance’s school would consider “less than optimal”, are able to generate sustainable economic growth. In this context the VoC approach has been consistently challenging the traditional “one fits all” approach towards capital markets reform usually endorsed by institutions such as the World Bank and the International Monetary Fund, as well as by many scholars and capital markets regulators associated with La Porta’s Law and Finance School. As any theoretical framework, however, the VoC approach also faces its own challenges and still lacks the scientific maturity achieved by the Law and Finance School. Consequently a conciliation between the relational view of the firm proposed by the VoC approach and the overview of corporate governance practices throughout the world presented by the Law and Finance School would be instrumental to construe a more clear understanding of the competitive advantages generated by certain sets of institutions and, at the same time, more accurately assess impacts of reforms that, even if implemented with the legitimate goal of promoting firms’ transparency and higher corporate governance standards, may counter-intuitively generate unprecedented corporate and capital markets crisis. By analyzing two concepts proposed by Ronald J. Gilson, Henry Hansmann and Mariana Pargendler that have an apparent fundamental link to La Porta’s school of Law and Finance (i.e. Olson Problem and Regulatory Dualism through a varieties of capitalism approach, this study aims at rethinking the traditional “one fits all” approach towards capital markets reform and taking a further step in the direction of conciliating the VoC approach with La Porta’s Law

Labour market reforms in the context of political power theory: The case of Slovenia

Directory of Open Access Journals (Sweden)

Tjaša Redek

2009-06-01

Full Text Available The rigidity of labour market has several important negative economic consequences: it stifles job creation, increases discrimination of those that it is actually aimed at protecting (young, women and the low-skilled, hurts the unemployed, slows down economic restructuring and damages its global competitiveness. But reforms are slow and often marked with disputes among partners in the collective bargaining process. Afraid of social security loss, unions usually oppose the reform, while governments usually give in to the union pressures and negative image of reform consequences created by unions and assisted by media. The characteristics of the labour market and labour market reform with respect to bargaining among power groups are examined both theoretically and empirically in the case of Slovenia.

75 FR 4310 - Credit Reforms in Organized Wholesale Electric Markets

Science.gov (United States)

2010-01-27

... energy markets, in which regional transmission organizations (RTOs) and independent system operators... require RTOs and ISOs to adopt tariff revisions reflecting these proposed credit reforms. The Commission... is in the organized wholesale electric markets.\\5\\ Individual RTOs and ISOs developed their own...

75 FR 27330 - Credit Reforms in Organized Wholesale Electric Markets; Notice of Agenda for Technical Conference

Science.gov (United States)

2010-05-14

... Credit Reforms in Organized Wholesale Electric Markets Notice of Proposed Rulemaking\\1\\ regarding whether... Credit Reforms in Organized Electric Markets May 11, 2010 Commission Meeting Room Agenda 9-9:05 a.m... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. RM10-13-000] Credit Reforms...

China's electricity market-oriented reform: From an absolute to a relative monopoly

International Nuclear Information System (INIS)

Wang, Qiang; Chen, Xi

2012-01-01

The market-oriented reform in electricity industry has become a global trend since 1980s. Although China's electricity industry has been reformed since 1978, the substantial reform has not been conducted until 1985. Before 1985, China's power industry had been absolutely monopolized by the central state-owned companies. The absolute monopoly has been broken since 1985, when the Chinese government opened doors for non-central state-owned investment entities and foreign investors in power supplies in order to solve the chronic power shortage. In 2002, the comprehensive electricity reform plan entitled Scheme of the Reform for Power Industry was enacted. However, implementation of this plan was delayed due to electricity supply shortages. Even worse, a new kind of monopoly has been developed under the background “the state advances, the private sector retreats” in late years. In some sense, the former absolute monopoly has transformed the current relative monopoly. We contend that the relative monopoly has reversed the market-oriented reform in China's electric industry. If the relative monopoly remains unchanged, it will be harmful to public welfare.

Policy conflicts : Market-oriented reform in health care

NARCIS (Netherlands)

Dolfsma, W.A.; Mcmaster, R.

From an institutionalist perspective, we identify five sources of policy conflict. Each may explain why policies intended to obtain particular goals for an institutionalized practice may have unintended consequences. We illustrate by analyzing attempts at introducing market-oriented reform in health

The reform in the Turkish natural gas market: A critical evaluation

International Nuclear Information System (INIS)

Cetin, Tamer; Oguz, Fuat

2007-01-01

Turkey is in a strategically advantageous position in terms of its natural gas market. Being in the middle of Europe and energy-rich countries of Central Asia, it can be an energy corridor between these two regions. It can import gas from a number of countries and diversify its sources. This situation may also provide motivation for a competitive gas market. The recent reform in the market, which began in 2001, was an attempt to strengthen the natural gas market to this end. However, the reform has not worked out as expected so far. This article discusses recent restructuring efforts in the Turkish natural gas market. We focus on the legal structure and economic consequences of the legal change within the international economic relations. After presenting a detailed discussion of the legal framework, we draw attention to the problems of the industry and difficulties in the transition to a more competitive market structure. In the end, we touch upon some regulatory issues and potential conflicts. (author)

Economic Growth and Institutional Reform in Modern Monarchies and Republics:

DEFF Research Database (Denmark)

Bjørnskov, Christian; Kurrild-Klitgaard, Peter

Standard theoretical arguments suggest that republics ought to grow faster than monarchies and experience lower transitional costs following reforms. We employ a panel of 27 countries observed from 1820-2000 to explore whether regime types and institutional reforms have differential growth effects...... in monarchies and republics. A set of Barro-type regressions show that there are no significant growth differences between the two regime types and that the effects of incremental reforms do not differ between them, but that those of large-scale reforms do. Specifically, we find a strong "valley...

Energy market reform - lessons learned and next steps

International Nuclear Information System (INIS)

Doucet, G.

2004-01-01

This presentation will be based on the World Energy Council's recently published report, Energy Market Reform: Lessons Learned and Next Steps with Special Emphasis on the Energy Access Problems of Developing Countries. The report draws on practical lessons from past studies carried out by the World Energy Council and on current experiences on the desirable architecture of market reforms in electricity and natural gas. The approach of the study was not to further deepen the analysis or to provide technical recommendations but rather, to build a debate guided by the common thread of energy security and end-user e mpowerment , highlighting the possible areas of conflict of interest and the broad solutions that might be chosen depending on the local circumstances for different parts of the energy chains. The ambition was to identify key concerns and to initiate a debate on possible answers.(author)

Thinking on Sichuan-Chongqing gas pipeline transportation system reform under market-oriented conditions

Science.gov (United States)

Duan, Yanzhi

2017-01-01

The gas pipeline networks in Sichuan and Chongqing (Sichuan-Chongqing) region have formed a fully-fledged gas pipeline transportation system in China, which supports and promotes the rapid development of gas market in Sichuan-Chongqing region. In the circumstances of further developed market-oriented economy, it is necessary to carry out further the pipeline system reform in the areas of investment/financing system, operation system and pricing system to lay a solid foundation for improving future gas production and marketing capability and adapting itself to the national gas system reform, and to achieve the objectives of multiparty participated pipeline construction, improved pipeline transportation efficiency and fair and rational pipeline transportation prices. In this article, main thinking on reform in the three areas and major deployment are addressed, and corresponding measures on developing shared pipeline economy, providing financial support to pipeline construction, setting up independent regulatory agency to enhance the industrial supervision for gas pipeline transportation, and promoting the construction of regional gas trade market are recommended.

Stranded cost recovery in electricity market reforms in the US

International Nuclear Information System (INIS)

Woo, C.K.; Lloyd, D.; Karimov, R.; Tishler, A.

2003-01-01

An important element of an electricity market reform is stranded cost recovery. This paper explains the cause of stranded costs, describes four recovery mechanisms, evaluates these mechanisms using the criteria of recovery certainty, economic efficiency and equity, reviews the financial performance of 12 utilities in the US in connection to stranded cost recovery, and shows why the mechanism used in California has contributed to the reform failure in that state. (Author)

Four proposals for market-based health care system reform.

Science.gov (United States)

Sumner, W

1994-08-01

A perfectly free, competitive medical market would not meet many social goals, such as universal access to health care. Micromanagement of interactions between patients and providers does not guarantee quality care and frequently undermines that relationship, to the frustration of all involved. Furthermore, while some North American health care plans are less expensive than others, none have reduced the medical inflation rate to equal the general inflation rate. Markets have always fixed uneven inflation rates in other domains. The suggested reforms could make elective interactions between patients and providers work more like a free market than did any preceding system. The health and life insurance plan creates cost-sensitive consumers, informed by a corporation with significant research incentives and abilities. The FFEB proposal encourages context-sensitive pricing, established by negotiation processes that weigh labor and benefit. Publication of providers' expected outcomes further enriches the information available to consumers and may reduce defensive medicine incentives. A medical career ladder would ease entry and exit from medical professions. These and complementary reforms do not specifically cap spending yet could have a deflationary impact on elective health care prices, while providing incentives to maintain quality. They accomplish these ends by giving more responsibility, information, incentives, and choice to citizens. We could provide most health care in a marketlike environment. We can incorporate these reforms in any convenient order and allow them to compete with alternative schemes. Our next challenge is to design, implement, and evaluate marketlike health care systems.

Does reform work? An econometric examination of the reform-growth puzzle

Czech Academy of Sciences Publication Activity Database

Babetskii, Ian; Campos, N. F.

-, č. 6215 (2007), s. 1-37 ISSN 0265-8003 Institutional research plan: CEZ:AV0Z70850503 Keywords : economic growth * structural reform Subject RIV: AH - Economics http://www.cepr.org/pubs/new-dps/dplist.asp?dpno=6215

Does reform work? An econometric examination of the reform-growth puzzle

Czech Academy of Sciences Publication Activity Database

Babetskii, Ian; Campos, N. F.

-, č. 2 (2007), s. 1-29 Keywords : growth * liberalisation * structural reforms Subject RIV: AH - Economics http://www.cnb.cz/m2export/sites/www.cnb.cz/en/research/research_publications/cnb_wp/download/cnbwp_2007_02.pdf

Does reform work? An econometric examination of the reform-growth puzzle

Czech Academy of Sciences Publication Activity Database

Babetskii, Ian; Campos, N. F.

-, č. 322 (2007), s. 1-40 ISSN 1211-3298 Institutional research plan: CEZ:AV0Z70850503 Keywords : meta-regression analysis * reform * growth Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp322.pdf

Economic Reforms and Gender-based Wage Inequality in the Presence of Factor Market Distortions

OpenAIRE

Chaudhuri, Sarbajit; Roychowdhury, Somasree

2014-01-01

A simple three-sector general equilibrium model has been developed with both male and female labour and factor market distortions. The effects of different liberalized economic policies have been examined on the gender-based wage inequality. The analysis finds that credit market reform and tariff reform produce favourable effects on the wage inequality while the liberalized investment policy becomes counterproductive. These results have important policy implications for a small open developin...

Security and labour market flexibility

DEFF Research Database (Denmark)

Refslund, Bjarke; Rasmussen, Stine; Sørensen, Ole H.

2017-01-01

In the face of the economic and financial crisis, several European countries have implemented a number of structural reforms to increase employment and the flexibility of the labour market, in particular by reducing employment protection in an effort to deregulate labour markets. Reform proponents...... employment. Conversely, reform opponents claim that this view builds on a misguided view of labour market dynamics. They do not believe that such reforms will lead to job growth, asserting that such reforms are as likely to reduce as to increase employment and that they will lead to growing inequality...... and labour market segmentation. In Denmark, employee protection in terms of notice periods and dismissal compensation, which is mainly regulated by collective agreement, is among the lowest in the EU. Unemployment was, before the crisis, among the lowest in the EU but the crisis also negatively affected...

Roadmap of retail electricity market reform in China: assisting in mitigating wind energy curtailment

Science.gov (United States)

Yu, Dezhao; Qiu, Huadong; Yuan, Xiang; Li, Yuan; Shao, Changzheng; Lin, You; Ding, Yi

2017-01-01

Among the renewable energies, wind energy has gained the rapidest development in China. Moreover wind power generation has been penetrated into power system in a large scale. However, the high level wind curtailment also indicates a low efficiency of wind energy utilization over the last decade in China. One of the primary constraints on the utilization of wind energy is the lack of an electricity market, in which renewable energies can compete equally with traditional fossil fuel generation. Thus the new round electric power industry reform is essential in China. The reform involves implementing new pricing mechanism, introducing retail-side competition, promoting the consumption of renewable energy. The new round reform can be a promising solution for promoting the development and consumption of wind energy generation in China. Based on proposed reform policies of electric power industry, this paper suggests a roadmap for retail electricity market reform of China, which consists of three stages. Barriers to the efficient utilization of wind energy are also analysed. Finally, this paper introduces several efficient measures for mitigating wind curtailment in each stage of reform.

An Analysis of Missile Systems Cost Growth and Implementation of Acquisition Reform Initiatives Using a Hybrid Adjusted Cost Growth Model

National Research Council Canada - National Science Library

Abate, Christopher

2004-01-01

...) data with a hybrid adjusted cost growth (ACG) model. In addition, an analysis of acquisition reform initiatives during the treatment period was conducted to determine if reform efforts impacted missile system cost growth. A pre-reform...

75 FR 68636 - President's Working Group Report on Money Market Fund Reform

Science.gov (United States)

2010-11-08

... Sarah ten Siethoff at (202) 551-6792, Division of Investment Management, Securities and Exchange... question of whether further, more fundamental changes to the regulatory structure governing money market funds may be warranted.\\5\\ \\3\\ Money Market Fund Reform, Investment Company Act Release No. 29132 (Feb...

Economic growth and institutional reform in modern monarchies and republics

DEFF Research Database (Denmark)

Bjørnskov, Christian; Kurrild-Klitgaard, Peter

2014-01-01

Conventional arguments suggest that republics ought to grow faster than monarchies and experience lower transitional costs following reforms. We employ a panel of 27 countries observed from 1820 to 2000 to estimate these differences. Results show no significant growth differences between the two...... regime types. Effects of incremental reforms do not differ between them, but those of large-scale reforms do. Specifically, we find a strong valley-of-tears effect of large reforms in republics, and monarchies benefit from such reforms in the ten-year perspective adopted here. We offer some tentative...

Economic Growth and Institutional Reform in Modern Monarchies and Republics

DEFF Research Database (Denmark)

Bjørnskov, Christian; Kurrild-Klitgaard, Peter

2014-01-01

Conventional arguments suggest that republics ought to grow faster than monar- chies and experience lower transitional costs following reforms. We employ a panel of 27 countries observed from 1820 to 2000 to estimate these differences. Results show no significant growth differences between the two...... regime types. Ef- fects of incremental reforms do not differ between them, but those of large-scale reforms do. Specifically, we find a strong valley-of-tears effect of large reforms in republics, and monarchies benefit from such reforms in the ten-year perspective adopted here. We offer some tentative...

Economic reform in Europe: integrating and liberalizing the market for services

International Nuclear Information System (INIS)

Newbery, David M.

2001-01-01

The European Union faces challenges in reforming the Gas and Electricity Directives to implement the single market in electricity and gas. The paper argues that there is unfinished business in the areas of regulation, restructuring, encouraging proper risk management through contracting, and designing markets and regulation to ensure effective and sustainable competition in the services supplied over the networks. Regulators often lack critical information and appropriate power to act. Restructuring is problematic, requiring forceful competition authorities with a clear agenda to achieve desirable structural reforms. A key issue is striking the right balance between complete liberalisation and ensuring adequate capacity and investment. Finally, proactive competition policies will be necessary to resist the powerful forces for vertical and horizontal integration visible in the Union. (Author)

MARKET REFORMS AND “ECONOMIC MIRACLE” IN KAZAKHSTAN

OpenAIRE

György Simon

2009-01-01

Kazakhstan's postcommunist transition is characterized by gradual changes under the conditions of a limited democracy. These changes have embraced extensive price and trade liberalization, and resolutely promoted privatization and the building of market institutions, although structural reforms and the struggle against corruption have made little progress. The country's financial independence was established with the introduction of the tenge in 1993. Transformational recession reached its ma...

75 FR 20991 - Credit Reforms in Organized Wholesale Electric Markets; Notice of Technical Conference

Science.gov (United States)

2010-04-22

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. RM10-13-000] Credit Reforms in Organized Wholesale Electric Markets; Notice of Technical Conference April 15, 2010. Take notice... related to the Commission's Notice of Proposed Rulemaking on Credit Reforms in Organized Wholesale...

75 FR 26749 - Credit Reforms in Organized Wholesale Electric Markets; Notice of Technical Conference

Science.gov (United States)

2010-05-12

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. RM10-13-000] Credit Reforms in Organized Wholesale Electric Markets; Notice of Technical Conference April 15, 2010. Take notice... related to the Commission's Notice of Proposed Rulemaking on Credit Reforms in Organized Wholesale...

75 FR 27552 - Credit Reforms in Organized Wholesale Electric Markets; Further Notice Concerning Technical...

Science.gov (United States)

2010-05-17

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. RM10-13-000] Credit Reforms in Organized Wholesale Electric Markets; Further Notice Concerning Technical Conference May 10, 2010... technical conference related to the Commission's Notice of Proposed Rulemaking on Credit Reforms in...

Capital Markets, Infrastructure Investment and Growth in the Asia Pacific Region

Directory of Open Access Journals (Sweden)

Michael Regan

2017-02-01

Full Text Available This paper examines the relationship between infrastructure investment activity, capital market development, the role of public institutions and economic development in the Asia Pacific. It adopts a review approach drawing on empirical evidence over recent decades. Infrastructure is shown to be an important asset class playing a central role in a nation’s output, growth, productivity and microeconomic performance. Infrastructure investment also requires investment and predictions of a widening gap in the future supply of infrastructure in the Asia Pacific will require new forms of capital from both traditional and new sources including wider use of private participation, institutional investment, asset recycling and revenue bonds. Capital market development is also necessary to raise long-term local currency finance and evidence suggests that progress with regional capital market integration is slow and a continuing reform agenda is required. The dividend for regional countries is the prospect of higher levels of economic growth with infrastructure investment, capital market development, and foreign direct investment shown to have a strong and positive association with growth. A crucial link in this association identified in the review is the part played by national and regional institutions in improving the efficiency with which infrastructure is managed and providing promising ground for further research where the importance of these links can be researched in greater depth.

European electricity markets reforms: the 'visible hand' of public coordination

International Nuclear Information System (INIS)

Finon, Dominique; Roques, Fabien

2013-01-01

The paper investigates how proposed reforms on policies to maintain generation adequacy and encourage clean technology investments in a number of European countries modify the role of the market. In these reforms the government, regulator and system operator take on explicit planning and coordination responsibilities with the introduction of capacity mechanisms and long-term support for clean technologies. We highlight the interactions of these mechanisms with the electricity market and how they reallocate risks between generators, government and consumers. The different mechanisms offer varying degrees of autonomy to generators with regards to investment decisions. In a prospective way, the paper also explores how designs of these different mechanisms might converge towards a unified technology neutral mechanism in the long-run. This could involve auctioning of long-term contracts for all types of existing and new capacities, whether it is low carbon or fossil fueled. (authors)

Natural gas pricing reform in China: Getting closer to a market system?

International Nuclear Information System (INIS)

Paltsev, Sergey; Zhang, Danwei

2015-01-01

Recent policy in China targets an increase in the contribution of natural gas to the nation's energy supply. Historically, China's natural gas prices have been highly regulated with a goal to protect consumers. The old pricing regime failed to provide enough incentives for natural gas suppliers, which often resulted in natural gas shortage. A new gas pricing reform was tested in Guangdong and Guangxi provinces in 2011, and introduced nationwide in 2013. The reform is aimed at creating a more market-based pricing mechanism. We show that a substantial progress toward a better predictability and transparency of prices has been made. The prices are now more connected with the international fuel oil and liquid petroleum gas prices. The government's approach for a temporary two-tier pricing when some volumes are still traded at old prices reduced a potential opposition during the new regime implementation. Some limitations of the natural gas pricing remain as it created biased incentives for producers and favors large natural gas suppliers. The pricing reform at its current stage falls short of establishing a complete market mechanism driven by an interaction of supply and demand of natural gas in China. - Highlights: • China's reform of natural gas pricing is in effect nationwide from 2013. • Prices are now connected to international fuel oil and liquid petroleum gas prices. • The reform benefits domestic producers and importers of natural gas. • There are still price distortions between industrial and residential sector. • The reform needs to create a system where both supply and demand are considered.

Institutional and Regulatory Economics of Electricity Market Reforms: the Evidence from India, Pakistan, Bangladesh, Nepal, and Sri Lanka

Science.gov (United States)

Singh, Bipulendu

Five South Asian countries-- India, Pakistan, Bangladesh, Nepal and Sri Lanka -- embarked on electricity market reforms in the 1990's. The dissertation uses the framework of New Institutional Economics to assess the effects on electricity sector performance of both observables elements of reform (i.e. privatization, unbundling, establishment of independent regulatory agencies etc.) as well as the unobservable elements (informal beliefs, habit, norms and culture of the actors involved in reforms). The first part of the dissertation -- econometric analysis of the relationship between observable electricity market reform measures and performance indicators -- finds that for the most part electricity market reforms in South Asia are having a positive impact on the performance of the sector. This is particularly the case for reforms that have increased private sector participation in generation and distribution and have vertically unbundled utilities into generation, transmission and distribution entities. Many of the reforms are positively correlated with higher tariffs, indicating a cost to the consumers from the reforms. The relationship between independent regulation and performance indicators , however, is not established. The second part of the dissertation - analytical narrative of the reform experiences of Gujarat and Nepal -- examines the informal elements (such as beliefs, norms, culture) that motivate behavior and explains how and why reform outcomes differed in these two places. The dissertation finds that the strength of formal institutions rules and the nature of social norms and customs have a significant influence on the outcome of reforms. Aided by the strength of its formal institutional framework and more evolved social norms and customs that encouraged people to follow formal rules, reforms in the Indian state of Gujarat were a success. The weakness of the formal institutional framework and the predominance of relation-based norms and customs in

Price elasticities in the German Statutory Health Insurance market before and after the health care reform of 2009.

Science.gov (United States)

Pendzialek, Jonas B; Danner, Marion; Simic, Dusan; Stock, Stephanie

2015-05-01

This paper investigates the change in price elasticity of health insurance choice in Germany after a reform of health insurance contributions. Using a comprehensive data set of all sickness funds between 2004 and 2013, price elasticities are calculated both before and after the reform for the entire market. The general price elasticity is found to be increased more than 4-fold from -0.81 prior to the reform to -3.53 after the reform. By introducing a new kind of health insurance contribution the reform seemingly increased the price elasticity of insured individuals to a more appropriate level under the given market parameters. However, further unintended consequences of the new contribution scheme were massive losses of market share for the more expensive sickness funds and therefore an undivided focus on pricing as the primary competitive element to the detriment of quality. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.

Market Reform, Programmatic (DeAlignment and Party System Stability in Latin America

Directory of Open Access Journals (Sweden)

Kenneth M. ROBERTS

2013-07-01

Full Text Available Although democratic regimes in Latin America since the early 1980s have been surprisingly durable, party systems in much of the region continue to experience very high levels of electoral instability. A critical juncture approach to institutional change suggests that variation in party system stability is related to the impact of market liberalization in the 1980s and 90s on the programmatic alignment –or (dealignment– of partisan competition. Market reforms that were adopted by conservative leaders and opposed by a major leftist rival aligned party systems programmatically, allowing societal opposition to be channeled into institutionalized forms of competition that were highly stable in the post-adjustment era. By contrast, «bait-and-switch» reforms adopted by populist or leftist leaders were programmatically de-aligning for party systems, leaving them vulnerable to highly destabilizing reactive sequences in the aftermath to the reform process-including mass social protests, the demise of historic conservative parties, and the outflanking of traditional populist or leftist parties by more radical, anti-neoliberal outsiders. The political dynamics of market-based economic adjustment thus heavily conditioned the ways in which party systems would process the post-adjustment revival of populist and leftist alternatives in the region.

The effect of education and economic growth in the labour market in transition economies - Case study for SEE countries

Directory of Open Access Journals (Sweden)

Majlinda Mazalliu

2015-07-01

Full Text Available In this research paper is analyzed labour market in transition economies with case study SEE countries and the main theoretical arguments for discussions are as following: the effects of education on labour market, improving labour market performance in SEE countries, structural reforms and economic policies for improving labour markets, relationship between level of education and growth on labour market. In methodology, the data is collected from international institutions and is calculated through STATA program. The main analyses include: descriptive statistic, multiple regression analysis and correlation matrix. The results of regression analysis and correlation matrix have shown that education has negative impact and negative correlation on labour market (labour market efficiency and labour market regulation. But, economic growth has shown positive impact and positive correlation on labour market (labour market efficiency and labour market regulation and all variables that are including in T-statistical analysis have shown non - significance on labour market.

What went wrong in California's electricity market?

International Nuclear Information System (INIS)

Chikeung Woo

2001-01-01

The California electricity market reform promised to deliver reliable service at low and stable prices. Frequent capacity shortages and the ensuing rolling black-outs, price spikes, and large price volatility since Summer 2000 raise a simple but substantive question: what went wrong? The answer to this question will help countries contemplating electricity market reform not to commit similar mistakes. We find the answer by identifying the major factors that have turned the California dream into a nightmare. Such factors include poor market design, market power, sustained demand growth not matched by new capacity, rising marginal cost, and financial insolvency. Proposed remedies include an alternative market settlement process, long-term contract, fast licensing and siting process for new generation and transmission, conservation and energy-efficiency, distributed resources, rate options, and debt restructuring. The California experience suggests that a reversible regulatory reform is a safe alternative to an irreversible market reform. (Author)

A cross-country analysis of electricity market reforms: Potential contribution of New Institutional Economics

International Nuclear Information System (INIS)

Erdogdu, Erkan

2013-01-01

The paper explores whether the question of why some countries are able to implement more extensive reforms is closely related to the question of why some countries have better institutions than others. We analyze this question by using an empirical econometric model based on Poisson regression with cross-section data covering 51 states in the US, 13 provinces in Canada and 51 other countries. In the course of the study, we check the validity of three important arguments of New Institutional Economics (NIE) for the power market liberalization process. The first argument is the “path-dependency”. To test its impact on the reform progress, we try to explain whether the background of the chairperson of the regulatory agency when reforms started or that of the governor/minister responsible for energy policy at that time has an impact on the subsequent reform progress. The second argument is the impact of “democracy” as an institution on the reform progress. We look at the effect of two important indicators of democracy (i.e., civil liberties and political rights) on the reform progress. The final argument of NIE is about transaction costs. We concentrate on the level of corruption in a country as one of the key factors that determine transaction costs and try to explore its impact on the reforms. The results show that the backgrounds of the chairperson and the minister/governor, the level of democracy and corruption in a country are significantly correlated with how far reforms have gone in that country. The negative relationship between reform progress and civil liberties may indicate that reforms may be limited in democratic countries with strong civil society institutions such as trade unions or other organized structures in the society that may consider reforms as ‘harmful’ to their self-interest. - Highlights: • We model impact of institutions on the electricity market reforms. • Dataset covers 51 states in the US, 13 provinces in Canada and 51

"Drenched in the Past:" the Evolution of Market-Oriented Reforms in New Orleans

Science.gov (United States)

Jabbar, Huriya

2015-01-01

As the city with the largest charter-school market share in the United States, New Orleans, Louisiana exemplifies market-oriented models in education. For a city that is so "drenched in the past," the reform movement in New Orleans typically neglects historical context, often dismissing the education system pre-Katrina as simply corrupt…

Policy Reform Impact on Food Manufacturing

OpenAIRE

Celikkol, Pinar; Dunn, James W.; Stefanou, Spiro E.

2003-01-01

The impact of agricultural policies and their reform is of major concern when addressing issues of growth, innovation and consolidation in the food manufacturing sector. Growth is one of the forces fueling the globalization of food manufacturing activities. Market- and policy-driven forces present a myriad of opportunities to influence growth and reorientation of patterns at the nexus where food manufacturing links the food system. The productivity and international competitiveness of the foo...

PREDICTED IMPACTS OF PENSION REFORM ON THE LABOUR MARKET IN POLAND

Directory of Open Access Journals (Sweden)

Bogusława Urbaniak

2015-07-01

Full Text Available Pension system reforms increasing retirement age and accentuating citizens’ individual responsibility for the amounts of their future pensions have effects on labour markets. This article provides an analysis of factors determining the interest of employees over 50, and even those over 45, in continued employment, as well as of relevant compulsion and risk factors. Some of the discussion deals with the assumptions underlying the Polish pension system reform and its likely effect on longer working lives. A hypothesis is formulated that for older employees to continue employment, working conditions must improve, as the responses of both older employees and their employers reveal insufficient sensitivity to the need to adapt the conditions to the capabilities of an ageing workforce. Yet, even if the necessary measures are taken, occupational stratification leading to the emergence of age-segmented labour market with low-skilled, precarious, and part-time jobs is unavoidable. The article is partly based on the results of a survey that a University of Łódź team conducted for the project Diagnosis of the current situation of women and men aged 50+ on the labour market in Poland, funded by the European Social Fund.

Demise of the standard model for power sector reform and the emergence of hybrid power markets

International Nuclear Information System (INIS)

Gratwick, Katharine Nawaal; Eberhard, Anton

2008-01-01

Following earlier reforms in the power sectors of industrialized countries and emerging markets (e.g. Chile), developing countries were encouraged to unbundle their electricity industries and to introduce competition and private sector participation. This paper highlights the developments that led to how power sector reform came to be defined as a standard model and theoretical framework in its own right, and how the model was used prescriptively in many developing countries. However, we also show that, after more than 15 years of reform efforts, this new industry model has not fully taken root in most developing countries. Finally, we identify and characterize the emergence of new hybrid power markets, which pose fresh performance and investment challenges

Information report submitted by the Commission for European Affairs on the reform of the emission allowances market. Nr 4569

International Nuclear Information System (INIS)

Leroy, Arnaud

2017-01-01

This parliamentary report first proposes a presentation of the European carbon emission allowances market or emission trading scheme (ETS) by recalling the context of its creation, and by describing its operation (a trading platform to reduce CO_2 emission in Europe), and commenting critics which are generally made about this market. Then, the authors present and comment proposals of reform with notably the creation of a reserve fund of stability, and a structural reform of the market. The authors then explain why and how the ETS reform must go beyond that if the European Union wants to meet commitments defined in the Paris agreement

Mid-Term Electricity Market Clearing Price Forecasting with Sparse Data: A Case in Newly-Reformed Yunnan Electricity Market

Directory of Open Access Journals (Sweden)

Chuntian Cheng

2016-10-01

Full Text Available For the power systems, for which few data are available for mid-term electricity market clearing price (MCP forecasting at the early stage of market reform, a novel grey prediction model (defined as interval GM(0, N model is proposed in this paper. Over the traditional GM(0, N model, three major improvements of the proposed model are: (i the lower and upper bounds are firstly identified to give an interval estimation of the forecasting value; (ii a novel whitenization method is then established to determine the definite forecasting value from the forecasting interval; and (iii the model parameters are identified by an improved particle swarm optimization (PSO instead of the least square method (LSM for the limitation of LSM. Finally, a newly-reformed electricity market in Yunnan province of China is studied, and input variables are contrapuntally selected. The accuracy of the proposed model is validated by observed data. Compared with the multiple linear regression (MLR model, the traditional GM(0, N model and the artificial neural network (ANN model, the proposed model gives a better performance and its superiority is further ensured by the use of the modified Diebold–Mariano (MDM test, suggesting that it is suitable for mid-term electricity MCP forecasting in a data-sparse electricity market.

The individual insurance market before reform: low premiums and low benefits.

Science.gov (United States)

Whitmore, Heidi; Gabel, Jon R; Pickreign, Jeremy; McDevitt, Roland

2011-10-01

Based on analyses of individual market health plans sold through ehealthinsurance and enrollment information collected from individual market carriers, this article profiles the individual health insurance market in 2007, before health reform. The article examines premiums, plan enrollment, cost sharing, and covered benefits and compares individual and group markets. Premiums for the young are lower than in the group market but higher for older people. Cost sharing is substantial in the individual insurance market. Seventy-eight percent of people were enrolled in plans with deductibles for single coverage, which averaged $2,117. Annual out-of-pocket maximums averaged $5,271. Many plans do not cover important benefits. Twelve percent of individually insured persons had no coverage for office visits and only 43% have maternity benefits in their basic coverage. With the advent of health exchanges and new market rules in 2014, covered benefits may become richer, cost sharing will decline, but premiums for the young will rise.

MARKET SEGMENTATION: IDENTIFYING THE HIGH-GROWTH EXPORT MARKETS FOR U.S. AGRICULTURE

OpenAIRE

Reed, Michael R.; Salvacruz, Joseph C.

1994-01-01

A cluster analysis based on a five-year growth rate of agricultural imports from the United States was conducted on 86 countries and revealed two significant market segments for U.S. agriculture: the high-growth markets and the low-growth markets. Multiple discriminant analysis was then used to test the significance of the countries' trade-related and macroeconomic variables to their market growth classification. The discriminant function was used to predict the high-growth markets for U.S. a...

Labor market reforms and wage inequality in Korea

DEFF Research Database (Denmark)

Kim, Hyeon-Kyeong; Skott, Peter

2016-01-01

Temporary workers make up a sizeable part of the labor force in many countries and typically receive wages that are significantly lower than their permanent counterparts. This paper uses an efficiency wage model to explain the wage gap between temporary and permanent workers. High......-performing temporary workers may gain promotion to permanent status, and a high wage to permanent workers therefore serves a dual purpose: it affects the effort of both permanent and temporary workers. Applying the model to the Korean experience, we discuss the effects of the labor market reforms in 1998 on inequality....

Markets, trade and the role of institutions in African development

Directory of Open Access Journals (Sweden)

T Roe

2004-11-01

Full Text Available This paper focuses on the interdependence between international trade and institutional reform and suggests that the trade barriers erected by advanced countries on the agricultural exports of poor countries, in particular sub-Saharan agriculture serve as an impediment to economic growth and development.  Drawing upon recent literature, the suggestion is that trade barriers inhibit institutional reform that is a major factor affecting economic growth. An empirical analysis of trade reform and economic growth shows that sub-Saharan economies can reciprocate potential gains from increased trade, which are larger when an integration with world markets induces institutional reform.

Labour Market Reform and Incidence of Child Labour in a Developing Economy

OpenAIRE

Chaudhuri, Sarbajit

2009-01-01

The paper is purported to examine the consequences of possible labour market reform in the developing economies on the incidence of child labour and economic well-being of the child labour supplying families. A two-sector, full-employment general equilibrium structure with child labour and imperfection in the market for adult labour has been used for the analytical purpose. Although this policy is likely to lower the incidence of child labour the welfare of the families supplying child labour...

Russian Electricity Reform 2013 Update: Laying an Efficient and Competitive Foundation for Innovation and Modernisation

Energy Technology Data Exchange (ETDEWEB)

NONE

2013-06-01

Russia is in the process of one of the most ambitious electricity reform programs ever undertaken. The reform is crucial for Russia, with the potential to modernize and transform the sector into a key driver of longer-term economic growth and prosperity. In 2005, the IEA published a study documenting the proposed reform and highlighting some potential implementation issues. Achievements to date have been impressive by international standards, however the outcome remains uncertain. Electricity reform is entering another critical phase in Russia. The 2013 Update examines the key remaining challenges affecting the development of competitive wholesale and retail electricity markets in Russia including: market structure, market design, pricing, investment and related regulation. The report draws extensively on the experience of IEA member countries and on views expressed during consultations with key Russian stakeholders.

[Reform steps toward networking sheltered workshops and the general labour market].

Science.gov (United States)

Wendt, S

2010-02-01

Only 0.16% of disabled employees are enabled to change from sheltered workshops to the general labour market. At the same time the number of disabled employees in sheltered workshops is increasing more than anticipated. Investigations into the growing admissions to sheltered workshops resulted in recommendations to improve the practice of change over. More and more admissions of students having finished special schools could be reduced by improved cooperation between special schools and the local employment market. Special schools should offer suitable job trainings and support students to develop an understanding of the requirements of specific jobs and of their opportunities to develop their skills to do these jobs. In 2009, supported employment has been regulated in social security law, lasting up to three years and aimed at qualifying disabled youngsters for employment in the general labour market instead of entering sheltered workshops. The majority of admissions to sheltered workshops in the meantime concern people with psychological handicaps, with more than 30% however leaving the workshops later on. For this population, "virtual sheltered workshops" are offering more suitable means for reintegration in the general labour market, such as temporary employment in the general labour market or in occupations with small earnings. The personal budget for work is meant to be a model project within the German Länder, to transfer personal support from the sheltered workshop into the general labour market. The conference of German Länder Ministers of Social Affairs has been active since 2007 to develop a concept for reform of the social security law concerning integration assistance for disabled people, which in future is to concentrate on individual needs, removal of obstacles in the law to facilitate the transition from sheltered workshops into the general labour market. The "Deutsche Verein für öffentliche und private Fürsorge" (German association for public

Understanding China’s electricity market reform from the perspective of the coal-fired power disparity

International Nuclear Information System (INIS)

Mou, Dunguo

2014-01-01

In China, electricity consumption has grown quickly, supply is highly dependent on coal-fired power, and the prices of electricity are determined by the government, which increases the need for reform to enhance efficiency. In response to disputes about China’s electricity market reform, this paper analyses the efficiency of China’s coal-fired power plants using the Data Envelopment Analysis—Slack Based Measure (DEA-SBM) method on three levels: groups, provinces, and plants. The results indicate that there are both coal-electricity efficiency disparities and generation-hour arrangement unfairness across groups; the disparity across provinces is obvious and long-lasting, as indicated by capacity surpluses and coal-electricity efficiencies; and the disparities are displayed in detail by the estimation at the plant level. The disparities are primarily caused by the generator combination and generation hour arrangement. Competition may be able to solve the disparities, but a further comparison indicates that competition at the national level will enhance the efficiency to a greater degree than competition at the regional level. These results demonstrate that both competition and a united electricity market are necessary for further electricity market reform. - Highlights: • This paper analyses the coal-fired electricity efficiency from three levels. • There are efficiency disparities and hour arrangement unfairness at group level. • The disparities and unfairness are long-lasting across provinces. • The disparities and unfairness are detailed by analysis at plant level. • Competition at national market can improve the efficiency better than at regional market

Sharp Turn to the Market. Economic Reform in Russia (1992–1998 and Its Consequences

Directory of Open Access Journals (Sweden)

Alexander Ivanovich Tatarkin

2016-06-01

Full Text Available The generalization and systematisation of the literature on the history of reforms accumulated for twenty years allow to organise the ideas of the transformations processes and to set a new vector of understanding the socio-economic development of Russia in the last decade of the 20th century — the first decades of 21st century. The first step is the analysis of the publications reflecting the preparation, a course and results of a modern economic reform in the 1990th. The historiographical review includes the monographs written by both apologists of «shock therapy», and their opponents and critics, first of all by Academicians of the Russian Academy of Sciences. This literature analysis reveals the range of opinions concerning the preference of a «shock» variant of transformations, the assessment of the results of the reform by the end of the 1990th and the possibilities of the alternative ways of transition from the planned to the market economy. In particular, the apologists of «shock therapy» refer to the threat of hunger and civil war to justify the decisions, which have caused the decline in production, a hyperinflation and other negative tendencies. Their critics note that a lack of the support of the population has caused a failure of market transformations. While recognizing the obvious, that is an essential deterioration of economic indicators, the apologists see their success in the development of a system of market institutions and consequently, insist that there was no alternative to the realized reform. In turn, their opponents believe that there were the alternatives of «shock therapy», and the gradual cultivation of the institutions of the market economy would be their distinctive feature, but not their introduction by the administrative order

Energy Reforms in The Developing World: Sustainable Development Compromised?

Directory of Open Access Journals (Sweden)

Said Mbogo Abdallah

2015-06-01

Full Text Available Energy sector reforms with an emphasis on electricity growth have been taking place extensively and rapidly worldwide Particularly, motivated chiefly by classical economics’ standpoint of efficiency and market considerations, reforms have been made in the developed North. Models of reforms in the North have in turn been replicated in developing countries. However, questions arise as to whether the models used are suitable for the mostly rural and socioeconomically disadvantaged economies in the South. It is argued in this paper that a sustainability focused mode of reforms guided by futures studies is needed for such economies. Reforms taking place in Kenya and neighbouring countries are in particular examined from a sustainable future perspective; and appropriate improvements and further research are recommended.

Renewable energy policy and electricity market reforms in China

International Nuclear Information System (INIS)

Cherni, Judith A.; Kentish, Joanna

2007-01-01

The article examines the potential effectiveness of the renewable energy policy in China and its regulatory Law framework. It frames the option of renewable energy technology within the background of the long-lasting electricity problems that China has faced including serious supply shortages, reliance on coal, and severe environmental contamination. Its dual administrative and ownership system based on state and privately owned industry is discussed together with the market reform measures adopted in the sector. Current renewable energy policy is analysed, and the scope of the 2005 Renewable Energy Promotion Law is investigated. This is conducted within the context of the electricity sector reform that China adopted, and its effects upon the prospects of encouraging as well as expanding the development of renewable energy. This study draws upon primary information collected from interviews with stakeholders on the policy adequacy, and identifies three main types of shortcomings that have interfered with a more successful expansion of renewable energy in China. (author)

Financial Sector Regulation and Reforms in Emerging Markets: An Overview

OpenAIRE

Eswar S. Prasad

2010-01-01

This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial development and broader financial inclusion. I argue that these objectives can in fact reinforce one another. I also discuss aspects of macroeconomic policies and cross-border regulation that have impl...

Market Accountability in Schools: Policy Reforms in England, Germany, France and Italy

Science.gov (United States)

Mattei, Paola

2012-01-01

This article concentrates on the policy reforms of schools in England, Germany, France and Italy, from 1988 to 2009, with a focus on the introduction of market accountability. Pressing demands for organisational change in schools, shaped by the objectives of "efficiency" and competition, which were introduced in England in the 1980s,…

Behavioural assumptions in labour economics: Analysing social security reforms and labour market transitions

OpenAIRE

van Huizen, T.M.

2012-01-01

The aim of this dissertation is to test behavioural assumptions in labour economics models and thereby improve our understanding of labour market behaviour. The assumptions under scrutiny in this study are derived from an analysis of recent influential policy proposals: the introduction of savings schemes in the system of social security. A central question is how this reform will affect labour market incentives and behaviour. Part I (Chapter 2 and 3) evaluates savings schemes. Chapter 2 exam...

Tibetan Minzu Market

DEFF Research Database (Denmark)

Brox, Trine

2017-01-01

merchants, customers, Buddhist devotees, and voyeurs, this article presents novel understandings of the ethnic goods market in urban Chengdu. The article first explores the growth of the market, which is the result of a history of political and economic reforms, increased mobility, and religious revival......In downtown Chengdu a pocket of Tibetan culture has sprung up: a Tibetan market where Tibetans and Han Chinese meet to buy and sell ethnic minority products. Pointing to how Tibetan migration to Chengdu has contributed to the growth of a vibrant ‘minzu market’ attracting Tibetan and Han Chinese....... Second, it maps the market infrastructure according to the ethnicity of the shopkeepers and the commodities that are traded. Although there is still a clear ethnic division in the market, this article also documents the emergence of Han Chinese market participation in forms of trade that have...

Indirect Monetary Policy Reforms and Output Growth in Nigeria: An ...

African Journals Online (AJOL)

BRRE). The efforts in repositioning these banks through the current banking reforms (recapitalization and consolidation) the paper notes are a right step in the right direction. Keywords: Indirect monetary policy, Granger – causality, output growth

Economic Growth and Institutional Reform in Modern Monarchies and Republics: A Historical Cross-Country Perspective 1820-2000

DEFF Research Database (Denmark)

Bjørnskov, Christian; Kurrild-Klitgaard, Peter

Standard theoretical arguments suggest that republics ought to grow faster than monarchies and experience lower transitional costs following reforms. We employ a panel of 27 countries observed from 1820-2000 to explore whether institutional reforms have differential growth effects in monarchies...... and republics. A set of Barro-type regressions show that there are no significant growth differences between the two regime types and that the effects of incremental reforms do not differ between them, but that those of large-scale reforms do. Specifically, we find a strong "valley-of-tears" effect of large...

The Greek Electricity Market Reforms: Political and Regulatory Considerations

International Nuclear Information System (INIS)

Danias, Nikolaos; Kim Swales, John; McGregor, Peter

2013-01-01

The paper tracks the evolution of the Greek electricity market since the beginning of the liberalization process. Its progress is benchmarked against the criteria suggested by Littlechild (2006b). The Littlechild framework highlights key remaining deficiencies in the stances and policies adopted which need to be resolved in order for liberalization to proceed successfully. The focus is on the agendas of the Greek government, other domestic political forces and the European Union. A central requirement is the clear commitment to liberalization by the Greek government. In particular the government needs to give up political control over the previous vertically integrated, state-controlled electricity firm, Public Power Company (PPC), and allow more decision making powers and genuine independence to the market regulator. Liberalization is rendered more difficult by the present financial and economic crisis in Greece. - Highlights: • Greek electricity market liberalization is benchmarked against the Littlechild standard electricity market reform model. • Although the majority of the model requirements are met, liberalization in Greece is only partially successful. • Some elements of liberalization are qualitatively more significant than others. • More fundamental political economy issues need to be addressed in order for the liberalization to progress. • Financial crisis in Greece adds extra challenges

Growth and variability in health plan premiums in the individual insurance market before the Affordable Care Act.

Science.gov (United States)

Gruber, Jonathan

2014-06-01

Before we can evaluate the impact of the Affordable Care Act on health insurance premiums in the individual market, it is critical to understand the pricing trends of these premiums before the implementation of the law. Using rates of increase in the individual insurance market collected from state regulators, this issue brief documents trends in premium growth in the pre-ACA period. From 2008 to 2010, premiums grew by 10 percent or more per year. This growth was also highly variable across states, and even more variable across insurance plans within states. The study suggests that evaluating trends in premiums requires looking across a broad array of states and plans, and that policymakers must examine how present and future changes in premium rates compare with the more than 10 percent per year premium increases in the years preceding health reform.

Assessing Competition in Philippine Markets

OpenAIRE

Aldaba, Rafaelita M.

2008-01-01

This paper reviews the current empirical literature on competition and market structure of Philippine industries. It shows that weak competition is one of the fundamental factors that explain limited growth, productivity, and employment in the economy. Philippine experience has shown that reforms such as trade liberalization, deregulation, and privatization, while necessary, are not sufficient to foster effective competition. The success of these reforms depends on the creation of a competiti...

Impressive Growth in Africa Under Peace and Market Reforms

OpenAIRE

Gonzalo Salinas; Cheikh Gueye; Olessia Korbut

2015-01-01

Economic stagnation in sub-Saharan Africa (SSA) led a number of economists to question the region's ability to attain sustained economic growth, some arguing for the need to shift away from primary exports. Yet, we find that low growth has not been common to all SSA countries and that those that maintained political stability and significantly liberalised their economies experienced high and relatively stable growth in income per capita, even as high generally as the growth seen in ASEAN-5 co...

Market Expansion and Productivity Growth: Do New Domestic Markets Matter As Much As New International Markets?

OpenAIRE

Baldwin, John R.; Yan, Beiling

2012-01-01

This paper asks how market expansion contributes to productivity growth. It investigates whether entry to both new international markets and new domestic markets is associated with greater productivity growth. It also examines whether exit from export markets is necessarily associated with deteriorating performance or whether it too can lead to success when associated with movements to new markets. Finally, the paper examines the strategy of firms that move to new markets after they withdraw ...

Energy and CO2 emissions performance in China's regional economies: Do market-oriented reforms matter?

International Nuclear Information System (INIS)

Lin, Boqiang; Du, Kerui

2015-01-01

This paper employs a newly developed non-radial directional distance function to evaluate China's regional energy and CO 2 emission performance for the period 1997–2009. Moreover, we analyze the impact of China's market-oriented reform on China's regional energy and carbon efficiency. The main findings are as follows. First, most of China's regions did not perform efficiently in energy use and CO 2 emissions. Provinces in the east area generally performed better than those in the central and west areas. By contrast, provinces in the west area generally evidenced the lowest efficiency. Second, Market-oriented reforms, especially the promotion of factor market, were found to have positive effect on the efficiency of energy use and CO 2 emissions. Third, the share of coal in the total energy consumption and the expansion of the industrial sector were found to be negatively correlated with China's regional energy and CO 2 emissions performance. Based on the empirical findings, we provide policy suggestions for enhancing energy and carbon efficiency in China. - Highlights: • A newly developed NDDF are applied to evaluate China's energy and carbon performance. • Most of China's regions did not perform efficiently in energy use and CO 2 emissions. • Market-oriented reforms contributed to improving China's energy and carbon efficiency

Marketing aspects of steady growth business strategy

OpenAIRE

GONCHAR V.; KALININ O.

2015-01-01

The article analyzed the importance of marketing to achieve steady business growth, the main strategy of internal development and marketing of its level of development, achieving competitive advantage and the main directions of marketing management. The examples of marketing strategies for leading corporations were described. The problems and prospects of the business strategy of extensive growth and diversification were made.

The impact of power market reforms on electricity price-cost margins and cross-subsidy levels: A cross country panel data analysis

International Nuclear Information System (INIS)

Erdogdu, Erkan

2011-01-01

One of the main expectations from power market reform has been a reduction in both price-cost margins and cross-subsidy levels between industrial and residential consumers. This paper focuses on this issue by looking at the impact of the electricity industry reforms on residential and industrial electricity price-cost margins and their effect on cross-subsidy levels between consumer groups. Using panel data for 63 developed and developing countries covering the period 1982-2009, empirical models are developed and analyzed. The research findings suggest that there is no uniform pattern for the impact of reform process as a whole on price-cost margins and cross-subsidy levels. Each individual reform step has different impact on price-cost margins and cross-subsidy levels for each consumer and country group. Our findings imply that reform steps have different impacts in different countries, which supports the idea reform prescription for a specific country cannot easily and successfully be transferred to another one. So, transferring the formal and economic structure of a successful power market in a developed country to developing countries is not a sufficient condition for good economic performance of the electricity industries in developing countries. Furthermore, the study suggests that power consumption, income level and country-specific features constitute other important determinants of electricity price-cost margins and cross-subsidy levels. - Research highlights: → The paper focuses on the impact of power market reforms on price-cost margins and cross-subsidy levels. → Using panel data for 63 countries for the period 1982-2009, empirical models are developed and analyzed. → We found that each individual reform step has different impact for each consumer and country group. → We conclude that reform prescription for a specific country cannot easily be transferred to another one.

Market--what market? A review of Health Authority purchasing in the NHS internal market.

Science.gov (United States)

West, P A

1998-05-01

This paper argues that the British NHS Reforms (the 'Reforms') set out in Working for Patients [1] largely failed to create a market, to achieve the changes that market forces might have been expected to achieve or to meet the objectives set for the NHS in Working for Patients. It draws on the available literature and the author's experience of work with the NHS during the 6 years after Working for Patients. It is hampered, as are all such reviews of the UK Reforms, by the lack of a detailed and systematic research appraisal of the internal market. Many small changes, resulting from market mechanisms, may have occurred throughout the NHS without being publicized or well documented. But overall, there is little convincing evidence that the Reforms have achieved their goals or met the objectives of the politicians who initiated them. The argument here is necessarily limited by the space available (but see [2] for a detailed analysis of the NHS Reforms). The initial sections of the paper examine the characteristics of markets and market power and the extent to which the NHS Reforms created a market, with health authorities and fund-holders as its buyers. The paper concentrates in particular on health authorities. Later sections then examine the extent to which the Reforms met the objectives set out in Working for Patients.

Reviewing tax system and its reform plan for the fuel market in South Korea

International Nuclear Information System (INIS)

Lee, M.-K.

2005-01-01

After a long period of government intervention in the energy market, the Korean government has realized that the costs of its intervention are greater than the benefit as the economy got more complicated and more integrated into the world economy. The objective of the energy tax reform is to establish a transparent set of taxing principles, in order to internalize externalities from energy consumption. The expected effects of the reform is to motivate energy conservation and to promote R and D on energy conservation technologies which will ultimately result in the strengthening of industrial competitiveness and the reduction of urban air pollution

Reviewing tax system and its reform plan for the fuel market in South Korea

International Nuclear Information System (INIS)

Myung-Kyoon Lee

2005-01-01

After a long period of government intervention in the energy market, the Korean government has realized that the costs of its intervention are greater than the benefit as the economy got more complicated and more integrated into the world economy. The objective of the energy tax reform is to establish a transparent set of taxing principles, in order to internalize externalities from energy consumption. The expected effects of the reform is to motivate energy conservation and to promote R and D on energy conservation technologies which will ultimately result in the strengthening of industrial competitiveness and the reduction of urban air pollution. (author)

THE CONNECTION BETWEEN ECONOMIC GROWTH AND STOCK MARKETS

Directory of Open Access Journals (Sweden)

Andreea Maria PECE

2015-04-01

Full Text Available This paper examines the connection between economic growth and stock market performance in the case of an emerging economy, namely Romania, by using quarterly financial data, during the period 2000-2013. This topic is widely studied in the financial literature and seeks to provide an answer for the following questions: does economic growth influences the capital market, does capital market influences economic growth, or there is no connection between these variables. I have analyzed the long term relationship between economic growth and stock market for Romania, by applying Johansen cointegration test, Granger causality and Gregory Hansen cointegration test, which allows the presence of the structural breaks in the time series. The empirical results obtained highlighted that portfolio investments have a positive impact on economic growth and the GDP growth engages in turn, a long term positive capital markets return. The main conclusion of this study is that in the case of Romanian economy, is a bi-directional link between the economic growth and the capital market performance.

China’s Healthcare Reform And Resources Redistribution: Lessons For Emerging Nations

OpenAIRE

Jia CUI; Shaomin HUANG; Gerald RAMEY

2009-01-01

Following China’s recent economic growth and healthcare reform, medical services quickly merged into the market economy. The burden of healthcare expense on the Chinese people has become a serious political issue. This research project reviews the changes in health expenditures made during the last two decades. This paper explores the cause of this rapid change in the healthcare sector and analyzes the corresponding statistics during the entire economic reform period. In addition, the paper a...

Globalization, Labor Markets and Inequality in India | CRDI - Centre ...

International Development Research Centre (IDRC) Digital Library (Canada)

30 janv. 2008 ... India started on a program of reforms, both in its external and internal aspects, in the mid-1980s. While the increased exposure to world markets (globalization) and relaxation of domestic controls has undoubtedly given a spurt to the GDP growth rate, the impact of reforms on poverty, inequality and ...

Product-Marketing Innovation, Skills, and Firm Productivity Growth

DEFF Research Database (Denmark)

Junge, Martin; Severgnini, Battista; Sørensen, Anders

2016-01-01

The role of product and marketing innovation for productivity growth is addressed using survey and register data for the Danish economy. It is hypothesized that product and marketing innovation are complementary inputs and that innovation activities are skill-intensive. It is established...... that product and marketing innovation in skill-intensive firms results in significantly faster productivity growth. Moreover, product and marketing innovation have independent roles in productivity growth, which cannot be attributed to organizational changes. Finally, we apply an instrument variable approach...... for firms, innovation choices to study endogeneity. The results strongly support the idea that product–marketing innovation leads to faster productivity growth in skill-intensive firms....

SOCIAL POLICIES AND STRUCTURAL REFORMS IN EUROPE

Directory of Open Access Journals (Sweden)

Ferran Brunet Cid

2006-12-01

Full Text Available This paper considers the social and structural policies in contemporary Europe. The presentation is organized in four sections. First, we discuss the emerging Europe, the new unity based on democracy and the market economy, the special European Union formula, and comparisons with America. Second, we analyze the dynamics of the European economy, the convergence process, the gaps between United States in productivity and standard of living, competitiveness issues, and the emergence of a new European economy and new European policy mix.Third, we consider European social conditions, the stationary and aging population, Europe’s low employment rate and permanently high unemployment. European economic growth could draw on two major sources: the labor reserves and reforms in factor, product and service markets. In a monetary union, advanced industrial relations should promote labor mobility and salary flexibility. The social security systems permit the redistribution and cohesion which defines the European model.Fourth, for the new Europe, the structural reform strategy is the way forward for the challenge of European economic policy and social policy: more and better jobs thanks to sustainable growth in a dynamic and competitive knowledge-based economy, favoring greater social cohesion.

The downside of marketization: a multilevel analysis of housing tenure and types in reform-era urban China.

Science.gov (United States)

Fu, Qiang; Zhu, Yushu; Ren, Qiang

2015-01-01

Based on data from the 2005 National Population Sample Survey and compiled covariates of 205 prefectures, this research adopted principal-component and multilevel-logistic analyses to study homeownership in urban China. Although the housing reform has severed the link between work units and residence, working in state sectors (government, state-owned enterprises and collective firms) remained significant in determining a household's entitlement to reform-era housing with heavy subsidies or better qualities. While the prefecture-level index of marketization reduced local homeownership of self-built housing, affordable housing and privatized housing, its effect is moderated by cross-level interactions with income, education and working in state sectors across different types of housing. Meanwhile, the index of political and market connections promoted all types of homeownership except for self-built housing. By situating the downside of marketization within a context of urban transformation, this research not only challenges the teleological premise of the neoliberal market transition theory but calls for research on institutional dynamics and social consequences of urban transformation in China. Copyright © 2014 Elsevier Inc. All rights reserved.

Can market oriented economic reforms contribute to energy efficiency improvement? Evidence from China

International Nuclear Information System (INIS)

Fan Ying; Liao Hua; Wei Yiming

2007-01-01

Since China accelerated its market oriented economic reforms at the end of 1992, its energy intensity has declined 3.6% annually over 1993-2005. However, its energy intensity declined 4.2% annually during its first reform period 1979-1992. Therefore, can we conclude that the accelerated marketization since the end of 1992 has made no contribution to its energy efficiency improvement? In order to answer this challenging question, we examine the changes of energy own-price elasticity, as well as the elasticities of substitution between energy and non-energy (capital and labor) in China during the periods of 1979-1992 and 1993-2003. Generally, in transition or developing economies, holding the technology and output level fixed, if the energy own-price elasticity (algebraic value) declines or the substitution elasticity between factors rises, they will contribute to energy efficiency improvement. Our empirical study finds that: (1) during 1979-1992, the energy own-price elasticity is positive (0.285), and capital-energy, labor-energy are both Morishima complementary; which indicates a distorted energy price and inefficient allocation; and (2) during 1993-2003, the own-price elasticity for energy is negative (-1.236), and capital-energy and labor-energy are both Morishima substitute. All factor demands become more elastic, and all elasticities of substitution increase. The implication is that the accelerated marketization contributes substantially to energy efficiency improvement since 1993

Growth prospects for the Brazilian reinsurance market

Directory of Open Access Journals (Sweden)

Carlos Honorato Teixeira

2011-07-01

Full Text Available In 2008, resolution 168 of the National Council of Private Insurance (CNSP allowed international reinsurers to request authorization to operate in Brazil from the Superintendence of Private Insurance (SUSEP. This led to changes in the insurance and reinsurance markets. There is a lack of in-depth studies to evaluate the growth of the reinsurance market since its effective opening, taking into account macroeconomic factors and market reserve. This study aims to evaluate the size of the reinsurance market by examining: the main sectors of business that yield reinsurance, market concentration, share of GDP, and expectations for future growth. The main objective of this paper is to provide companies in the reinsurance segment with assistance in identifying the potential market, understanding its complexity: their main competitors, and possible operational niches. In addition, it provides new and existing reinsurers with an overview of difficulties in the market and the strategic positioning that the company must adopt in order to act more effectively within the industry. To achieve these goals, it analyzes the reinsurance market in detail, proposes methods or steps to take to define strategic positioning in the market, and offers a graphic "Performance vs. Importance Matrix." There is potential demand available to the insurance market which remains unmet. Despite the initial difficulties for companies operating in the sector, the market has demonstrated its potential for continued growth since its effective opening, which will ultimately attract reinsurers, making the market highly competitive.Key words: Reinsurance. Insurance. Growth Perspective.

Structural Reforms and Growth : Product and Labor Market Deregulations

NARCIS (Netherlands)

Eijffinger, S.C.W.; Rossi, A.

2006-01-01

The paper focuses on labor and product market deregulations, as fundamental elements in the passage from an investment to an innovation-based economy.The approach undertaken is prominently empirical.After a very brief description of the regulatory levels on the two sides of the Atlantic, we take two

Evaluating Labour's market reforms, 2002-10.

Science.gov (United States)

Mays, Nicholas; Tan, Stefanie

2012-01-01

Starting in 2002, the UK Labour government of 1997-2010 introduced a series of changes to the National Health Service (NHS) in England designed to increase individual NHS patient choice of place of elective hospital care and competition among public and private providers of elective hospital services for NHS-funded patients. In 2006, the Department of Health initiated the Health Reform Evaluation Programme (HREP) to assess the impact of the changes. The changes broadly had the effects that proponents had predicted but the effects were mostly modest. Most of the undesirable impacts feared by critics appeared not to have materialized to any discernible extent, at least by early in 2010. Labour's market appeared to have generated stronger incentives for quality and efficiency than its 1990 s predecessor with no obvious detriment to equity of access. However, this high level conclusion conceals a far more nuanced and complex picture of both the process of implementation and the impact of the changes, as the papers in this supplement drawn from the HREP show.

Manufacturing Employment and Wage Differentials After Structural Adjustment Reforms in Colombia: An Efficiency Wages Approach

Directory of Open Access Journals (Sweden)

Rodrigo Taborda

2011-06-01

Full Text Available In the framework of the structural reforms in Colombia one of the most important policy proposals was reducing rigidities in the labor market. A perspective to assess the results of such reforms is the analysis of the relationship between firm employment and wage differentials in manufacturing before and after the reforms. If the labor reforms reached the intended objective of making more flexible the labor market, the employment levels must change faster, along with the behavior of wages and other labor costs, given some characteristics of firms and the economy. This paper addresses this topic proposing a model of wage differential and employment growth and testing its propositions before and after the structural reforms and controlling for industry and firm characteristics. A first finding is the confirmation of the positive relationship proposed between intra-industry wage differential and employment. In the inter-industry wage differential estimation, we find heterogeneous responses depending on the industry and a reduction in the autonomous labor turnover.

Economic and Social Models in Europe and the Importance of Reform

Directory of Open Access Journals (Sweden)

Martin Heipertz

2008-09-01

Full Text Available This paper contributes to the ongoing debate on European economic and social models. It provides a comparative assessment of fiscal and regulatory policies in 17 industrialised countries (the EU15, US and Japan and presents the records of these countries in attaining key economic and social objectives. Social and economic systems that feature efficient public sectors and flexible market structures tend to experience reasonably sustainable public finances, high economic growth, education standards and employment, and well-functioning markets. Anglo-Saxon countries broadly fit this mould, albeit, seemingly, at some cost of income equality. A more pronounced emphasis on welfare state policies and the corresponding relatively high levels of public spending bring benefit to income distribution in the Nordic countries while the resulting inefficiencies in their economies are counterbalanced by flexibility in labour and particularly product markets. Also, a number of reform-minded European countries have improved their fiscal and regulatory policies while significantly enhancing the functioning of markets, fiscal sustainability and economic performance. This was generally attained without jeopardising social objectives. On the other hand, those continental and Mediterranean countries that maintain market inefficiencies and at the same time sustain expensive and inefficient welfare states generally suffer from low growth and employment and less well-functioning markets and face serious risks to their economies’ fiscal sustainability. The findings of this note support calls for the comprehensive reform of fiscal policies, as well as of product and labour markets.

Market Acceptance of Smart Growth

Science.gov (United States)

This report finds that smart growth developments enjoy market acceptance because of stability in prices over time. Housing resales in smart growth developments often have greater appreciation than their conventional suburban counterparts.

Market reforms in Swedish health care

DEFF Research Database (Denmark)

Diderichsen, Finn

1993-01-01

This report presents the main characteristics of reforms in the Swedish health services, as exemplified by the "Stockholm Model" introduced in 1992 in Stockholm county. The author discusses the motives behind these reforms, the already-evident increases in costs that are occurring, and the effect...

Reforming the Belgian market for orthotic braces: what can we learn from the international experience?

Science.gov (United States)

Simoens, Steven; De Coster, Sandra; Moldenaers, Ingrid; Guillaume, Paul; Depoorter, Antony; Van den Steen, Dirk; Van de Sande, Stefaan; Debruyne, Hans; Ramaekers, Dirk; Lona, Murielle

2008-05-01

This article aims to review regulation governing outpatient orthotic braces (neck, wrist and knee braces) in France, the Netherlands and Sweden with a view to reforming the Belgian market. Information about the regulatory framework was derived from an analysis of legal texts and a survey completed by national experts. Strategies to keep down prices include public procurement in Sweden, maximum prices in France, and exclusion of expensive braces from reimbursement in the Netherlands. Reimbursement is linked to a medical indication or a chronic condition in France, the Netherlands and Sweden. To gain reimbursement, the cost-effectiveness of orthotic braces needs to be demonstrated in France and the Netherlands. Orthotic braces tend to be initially prescribed by a specialist physician and distributed by orthotists, medical equipment shops and/or community pharmacies. Extensive government intervention exists in the outpatient orthotic brace market in the countries studied. Our recommendations to reform the Belgian market for prefabricated orthotic braces are to separate reimbursement for service provision from reimbursement for braces; to set prices by means of a tendering process or an international price comparison; and to make reimbursement conditional on effectiveness and cost-effectiveness of braces.

Nurse education in competitive markets: the case for relationship marketing.

Science.gov (United States)

Roberts, P M

1998-10-01

Since the National Health Service reforms of the late 1980s, nurse education has been increasingly subject to market forces. This new competitive environment presents not only threat, but also challenge and opportunity. Providers of nurse education who recognize the need for market orientation and develop responsive marketing strategies will maximize their potential for market retention and growth. Traditional marketing strategies have considerable limitations for public sector services. The new and growing field of relationship marketing offers nurse education an opportunity to retain and develop profitable relationships with both internal and external markets. This paper reviews the marketing arena in nurse education and proposes context-based qualitative research to ascertain definitive constructs of service quality. Such constructs might then be rooted in a theoretical framework of service quality measurement, and be measured within the disconfirmation paradigm of relationship marketing.

South Africa’s freight rail reform: A demand-driven perspective

Directory of Open Access Journals (Sweden)

Jan H. Havenga

2014-11-01

Full Text Available During the 20th century, freight transport in South Africa was employed to attain politicoeconomic ideals, resulting in the overprotection of rail and overregulation of road transport. Increasing industry pressure, combined with the international deregulation trend, led to deregulation in 1988. Myopia resulted in a rail investment hiatus and exponential growth in high-value, long-distance road transport, causing excessive logistics and externality costs for the country. The aim of this study was to propose a freight rail reform agenda based on, (1 lessons from past freight transport policy efforts and (2 the results of freight transport market segmentation driven by models developed over the past two decades. For the study, freight flows were modelled by disaggregating the national input–output model into 372 origin–destination pairs and 71 commodity groups, followed by distance decay gravitymodelling. Logistics costs were calculated by relating commodity-level freight flows to the costs of fulfilling associated logistical functions. The standard management approach of founding strategy development on market-driven segmentation provides a neutral input to steer rail reform discussions in South Africa. Market segmentation points to a dualistic rail reform agenda, enabling both a profit-driven core and a development-driven branch line network. Freight flow insights are steering the policy reform debate towards long-term freight strategy development and optimal freight logistics network design.

The implications of new forest tenure reforms and forestry property markets for sustainable forest management and forest certification in China.

Science.gov (United States)

Chen, Juan; Innes, John L

2013-11-15

This study examines issues existing in the southern collective forests in China, particularly prior to the implementation of new forest tenure reforms, such as continued illegal logging and timber theft, inadequate availability of finance and inconsistent forest-related policies. Such problems are believed to be hindering the adoption of sustainable forest management (SFM) and forest certification by forest farmers in China. Two strategies were introduced by the Chinese government with the purpose of addressing these issues, namely forest tenure reforms and their associated supporting mechanism, forestry property markets. Through two case studies in southern China, we investigated the effectiveness of the two strategies as well as their implications for the adoption of SFM and forest certification. The two cases were Yong'an in Fujian province and Tonggu in Jiangxi province. Personal interviews with open-ended questions were conducted with small-scale forest farmers who had already benefited from the two strategies as well as market officers working for the two selected forestry property markets. The study identified eight issues constraining the potential adoption of SFM and certification in China, including limited finance, poorly developed infrastructure and transport systems, insecure forest tenures, inconsistent forest policies, low levels of awareness, illegal forest management practices, lack of local cooperative organizations, and inadequate knowledge and technical transfer. We found that the new forest tenure reforms and forestry property markets had generally fulfilled their original objectives and had the capacity to assist in addressing many of the issues facing forests prior to the reforms. Copyright © 2013 Elsevier Ltd. All rights reserved.

Product-Marketing Innovation, Skills and Firm Productivity Growth

DEFF Research Database (Denmark)

Junge, Martin; Severgnini, Battista; Sørensen, Anders

The role of product and marketing innovation for productivity growth is addressed using survey and register data for the Danish economy. It is argued that marketing and product innovation are complementary inputs and that innovation activities are skill-intensive. It is found that product...... and marketing innovation in skill-intensive firms results in significantly faster productivity growth than in unskilled-intensive firms that introduce this combination of innovation activities. More precisely, an increase in the share of educated workers of one percentage point, increases productivity growth...... by around 0.1 percentage point in firms with product and marketing innovation. In addition, it is found that firms that engage in product innovation but not in marketing innovation or the other way around do not demonstrate a growth effect from their innovation activities. It is also found that product...

Medical device market in China.

Science.gov (United States)

Boyer, Philip; Morshed, Bashir I; Mussivand, Tofy

2015-06-01

With China's growing old-age population and economic presence on the international stage, it has become important to evaluate its domestic and foreign market contribution to medical devices. Medical devices are instruments or apparatuses used in the prevention, rehabilitation, treatment, or knowledge generation with respect to disease or other abnormal conditions. This article provides information drawn from recent publications to describe the current state of the Chinese domestic market for medical devices and to define opportunities for foreign investment potential therein. Recent healthcare reforms implemented to meet rising demand due to an aging and migrating population are having a positive effect on market growth-a global market with a projected growth of 15% per year over the next decade. Copyright © 2015 International Center for Artificial Organs and Transplantation and Wiley Periodicals, Inc.

Modeling of the influence of transparency of the derivatives market on financial depth

Directory of Open Access Journals (Sweden)

Irina Burdenko

2016-07-01

Full Text Available The market of derivative tools becomes an integral part of the financial market, the functions which are carrying out in it peculiar only to it: hedging, distribution of risks, ensuring liquidity of basic assets, information support of future movement of the prices, decrease in asymmetry of information in the financial markets. However, the insufficiency or lack of transparent information can lead to emergence of the crisis phenomena, shocks in the financial market and growth of system risk. Emergence of need for strengthening of information function of the market of derivatives changes of requirements to transparency of information had been caused by financial crisis of 2008-2009. In this article the attempt of an assessment of influence was made by means of autoregressive models the change of requirements to standard transparency, such as qualitative characteristic of the derivatives market, on quantitative indices of the financial market, in particular financial depth. The results of research demonstrate that reforming of the legislation concerning strengthening of transparency in the derivatives market positively influences the growth of financial depth. The research of this question will promote the best understanding of importance of reforming of regulation of the derivatives market, in particular strengthening of requirements to transparency. Recommendations of the further researches concern the needs of input of reforms of financial regulation in the derivatives market in Ukraine, and, thus, to provide the corresponding conditions for his development

Liberalisation Reform, 'Neo-centralism', and Black Market: The Political Diseconomy of Lake Nasser Fishery Development

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Christophe Béné

2008-10-01

Full Text Available Despite its relatively modest importance, and the current difficulties faced by the government in implementing liberalisation in the rest of the country, the Egyptian governement decided to embark on a reform of the Lake Nasser fishery in the early 2000s. The objective of this article is to analyse the evolution of this reform from a political economy perspective. The paper looks retrospectively at the general context of the reform, describes the different institutional and economic changes that have resulted from its realisation, identifies how the distribution of power between the different actors has altered the course of its implementation, and finally assesses the outcomes of the reform. The analysis shows that, while some major institutional changes have taken place, those changes have had little to do with a 'liberalisation' as conventionally understood in neo-classical literature. Instead, the new status quo turns out to be one where the central government and its different parastatal agencies have managed to maintain their existing advantages. The failure to reform more thoroughly the system also led fishers and fish traders to engage in a large-scale black market activity in which a substantial amount of fish is smuggled through unofficial trade channels.

Animal spirits, competitive markets, and endogenous growth

Science.gov (United States)

Miyazaki, Kenji

2013-10-01

This paper uses a simple model with an endogenous discount rate and linear technology to investigate whether a competitive equilibrium has a higher balanced growth path (BGP) than the social planning solution and whether the BGP is determinate or indeterminate. The implications are as follows. To start with, people with an instinct to compare themselves with others possess an endogenous discount rate. In turn, this instinct affects the economic growth rate in a competitive market economy. The competitive market economy also sometimes achieves higher economic growth than a social planning economy. However, the outcomes of market economy occasionally fluctuate because of the presence of the self-fulfilling prophecy or animal spirits.

Financial Markets and the Challenges of Sustainable Growth

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Janicka Małgorzata

2016-06-01

Full Text Available Sustainable growth and responsibility for the economy and the environment are postulates rarely associated with the term “financial market”. Financial markets are identified with the ruthless maximisation of profit at acceptable risk, rather than with socially responsible conduct. However, in the global economy businesses modify their priorities and become aware of not just the need to grow in financial terms but also to improve their quality performance. International financial markets have become part of this trend and are increasingly often adopting environmentally friendly attitudes and embracing the challenges posed by the concept of sustainable growth. Ideas such as CSR – Corporate Social Responsibility – and SRI – Socially Responsible Investment are gaining in importance. While sustainable growth of the economy as perceived from the point of view of the manufacturing or service sectors is widely discussed, the sustainable growth of financial markets is a relatively new concept and the available literature on “green” financial markets is quite scarce. This paper is intended to fill in this gap and examine the changes that have taken place on financial markets in the context of the idea of sustainable growth, with particular attention paid to the European Union markets.

Property rights and water markets in Australia: An evolutionary process toward institutional reform

Science.gov (United States)

Pigram, John J.

1993-04-01

In the past decade far-reaching reforms have taken place in the Australian water industry. Extensive restructuring of water administration has been accompanied by increased evidence of willingness by public agencies to consider alternative institutional arrangements to the traditional regulatory approach to water allocation and use. In irrigated agriculture, a market-based system linked to enforceable property rights to water is seen as preferable to rule-based management of water resources. However, significant social and economic considerations and political realities constrain the unfettered operation of water markets. The challenge facing the irrigation industry in Australia is to put in place institutional arrangements which reflect the most appropriate mix of incentive-based and regulatory mechanisms for water management.

Stock Market and Sustainable Economic Growth in Nigeria

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Erasmus L Owusu

2016-11-01

Full Text Available This paper examines the relationship between stock market evolution and sustainable economic growth in Nigeria. The study employs Auto-Regressive Distributed Lag (ARDL-bounds testing approach and a combined stock market indicators index to examine the relationship. The paper finds that, in the long run, stock markets have no positive and at best mixed effect on economic growth in Nigeria. This finding supports the numerous past studies, which have reported negative/mixed or inconclusive results on the effects of stock markets on economic growth. The paper, therefore, concludes that, there is the need for increasing financial deepening and the removal of bottlenecks in the financial sectors of the economy by providing further public and institutional education on the value of stock markets for economic development.

Reforming European electricity industries: to each, his own ''single market''

International Nuclear Information System (INIS)

Glachant, J.M.

2000-01-01

National transpositions of the European directive on domestic electricity markets have maintained a degree of diversity; and this also characterizes the other conditions for accessing national electricity markets (physical, commercial, industrial and capital access). As a look at the prices of electricity shows, these national markets do not operate in a single way Europe-wide. Furthermore, electricity companies - key actors in this competition - differ widely from each other in size, electrical potential, investment portfolios and strategies for growth. (authors)

Have coffee reforms and coffee supply chains affected farmers' income? The case of coffee growers in Rwanda

OpenAIRE

Murekezi, Abdoul Karim; Loveridge, Scott

2009-01-01

Low prices in the international coffee markets have worsened the economic well-being among coffee farmers. In the face of this situation, the Government of Rwanda has introduced coffee sector reforms that aimed to transform the sector in a way that targets the high quality market and moves away from the bulk coffee market. The high quality coffee market has shown consistent growth over time and exhibits price premiums in international market. If these high prices are passed on to farmers who ...

ABARE gas market study to evaluate impact of reforms

International Nuclear Information System (INIS)

Harman, J.

2000-01-01

ABARE has conducted Research into the Australian gas market for many years. For example, studies have examined the costs and benefit of interconnections in the gas and electricity markets (Dalziell et al 1993) and the net economic benefits of the oil and gas extraction industry (Hogan et al 1996). The biennial energy supply and demand projections published for more than 20 years) provide detailed and reliable energy forecasts. The most recent study (Bush et al 1999) found that natural gas consumption was expected to grow at an average rate of almost 4.4 percent to 2014-15, representing an increase to around 28 percent of total energy market share. Energy market and policy developments will effect the actual rate of growth of gas consumption. Major trends in the gas market which are raising important issues include an integration of regional gas markets through the construction of new gas pipelines and increasing interstate trade in gas, new access regimes in the transmission and distribution sector, along with increasing customer contestability in the retail markets

Market Access and Welfare

DEFF Research Database (Denmark)

Raimondos-Møller, Pascalis; Woodland, Alan D.

According to the literature, well known tariff reform rules that are guaranteed to increase welfare will not necessarily increase market access, while rules that are guaranteed to increase market access will not necessarily increase welfare. Such conflict between welfare and market access...... objectives of trade policy is problematic and calls for finding alternative tariff reform rules that can achieve both objectives at the same time. The present paper contributes to this aim by using a new set of tariff reforms that are based on local optimality. Using such reforms it is shown that market...... access and consumer welfare will always be weakly compatible, in the sense that reforms based on each objective have the same signed effect on the other objective. For strong compatibility, whereby both objectives increase as a result of a locally optimal tariff reform, we derive both a necessary...

Impact of Market Reforms on the Agricultural Sector Development and Food Self-Sufficiency in the Northern Region

Directory of Open Access Journals (Sweden)

Valentin Aleksandrovich Ivanov

2016-03-01

Full Text Available The successful development of Northern and Arctic areas depends on sustainable functioning of the agricultural sector. Agriculture and fishing agriculture is a way of life of the indigenous population. The article discusses the state of agriculture and food self-sufficiency in the Komi Republic in the years of relatively stable development (1960–1980 and in the conditions of market reforms. It analyzes production and consumption of food and shows a positive effect of modernization processes on the agricultural sector in the pre-reform period. It studies market transformation of the agrarian economy, accompanied in the 1990s by the sharp decline in agricultural production, degradation of productive capacity, rural demography, rural infrastructure, decrease in living standard of farmers, and disparity of prices on agricultural and industrial products. The paper discloses trends in food self-sufficiency of the northern region in 1980–2013 and reveals reasons for the decrease in its level in the period of market reforms. It considers possible scenarios to develop the agrarian sector and food self-sufficiency. To predict the agriculture development the author identifies strong and weak sides, opportunities and threats by means of SWOT-analysis. The article proposes 3 scenarios: inertial (pessimistic, baseline and optimistic. It finds out the most reasonable optimistic development scenario based on innovative modernization for the Komi Republic. The study results can be used to adjust the current State program of agricultural development and elaborate the strategy of the agro-food sector of the region

Reforming health care in Hungary.

Science.gov (United States)

Császi, L; Kullberg, P

1985-01-01

Over the past two decades Hungary has initiated a series of social and economic reforms which have emphasized decentralization of control and the reintroduction of market mechanisms into the socialized economy. These reforms both reflect and reinforce a changing social structure, in particular the growing influence of upper class special interest groups. Market reforms are an expression of concurrent ideological shifts in Hungarian society. We examined the political significance of three recent proposals to reform health services against the backdrop of broader social and economic changes taking place. The first proposes a bureaucratic reorganization, the second, patient co-payments, and the third, a voucher system. The problems each proposal identifies, as well as the constituency each represents, reveal a trend toward consolidation of class structure in Hungary. Only one of these proposals has any potential to democratize the control and management of the heath care system. Moreover, despite a governmental push toward decentralization, two of these proposals would actually increase centralized bureaucratic control. Two of the reforms incorporate market logic into their arguments, an indication that the philosophical premises of capitalism are re-emerging as an important component of the Hungarian world-view. In Hungary, as well as in other countries, social analysis of proposed health care reforms can effectively illuminate the social and political dynamics of the larger society.

The california electricity reform debacle

International Nuclear Information System (INIS)

Jaccard, M.

2001-01-01

In 1998, California launched a dramatic reform of its electricity sector, vertically de-integrating its major utilities and establishing a competitive generation market, with separate entities responsible for grid control and power exchange. After two uneventful years, wholesale prices rose dramatically in the summer of 2000 and have remained high into 2001. An imbalance between the high wholesale prices and frozen retail rates caused a financial crisis for the electric utilities and power shortages have been a chronic threat. Several factors contributed to this crisis: capacity has not expanded in step with demand either in California or its larger trading region; extreme weather and poorly timed plant outages further increased demand and decreased supply; market design flaws allowed significant suppliers to influence the market while frozen retail rates limited the demand response that would have mitigated the supply-demand imbalance. State and federal agencies have taken corrective action but the situation may remain critical for some time. Longer term solutions involve recognizing the special characteristics of electricity in designing marking reform. Because electricity supply and demand must be instantaneously balanced at all times, market reform must ensure that someone has the responsibility and effective tools to ensure that this occurs, in spite of unforeseen circumstances, and to prevent the exercise of market power. Because a competitive commodity market must work in concert with a monopoly delivery system, someone must be responsible and have the means to develop and operate the grid in ways that are amenable to effective competition. Finally, reform design must ensure that the cyclical investment and price patterns of normal commodity markets are minimized in the electricity market and that when they do occur, market volatility does not compromise reliability and price stability for those who value these highly and would pay a premium for them

Conceptual Provisions for Conducting the Institutional Reform of the National Labor Market in Ukraine

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Sybirtsev Volodymyr V.

2017-09-01

Full Text Available The aim of the study is to substantiate and develop conceptual provisions for conducting the institutional reform of the national labor market. There singled out aspects of implementing the operation and development of the labor market in the context of manifestation of the internal complexity and multi-functionality inherent to it. The existence of regularities in the increase of the need for development of the institutional structure of the labor market under conditions of transforming and restructuring the system of socio-economic relations is proved. The presence of a multiplicative effect from the spread of the new institutional practices being introduced in the labor market on the institutional regulation of a wide range of economic operations, phenomena and processes is revealed. There defined the content of the process of developing the institutional space of the national labor market, which involves institutionalizing the processes of socialization of the socio-economic relations associated with productive employment, in the context of which there occurs an increase in the importance and role of human resources in the creation of economic goods, expanded social reproduction.

State and market in post-reform Brazilian air transportation

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Cristiano Fonseca Monteiro

2009-10-01

Full Text Available The changes that have taken place in Brazilian air transportation following the cycle of “market reforms” have turned this sector into an object of growing interest. This interest, in turn, has led to the emergence of a broad literature on the subject, characterized by the emphasis on an agenda of liberalization and the critique of State activism. The goal of the present article is to promote a confrontation between the different interpretations that have been made, incorporating the contributions of approaches inspired in Economic Sociology and in institutionalist analyses in order to draw attention to the importance that political variables, and the State in particular, have for economic performance. The post-reform context is characterized by an initial moment of greater State activism regarding air transportation, through re-initiation of stricter regulatory mechanisms and the re-opening of channels of dialog between state actors and firms. This is followed by a second moment in which state activism is abandoned, at the same time that the sector demonstrates expressive rates of growth, pushing it beyond its existing capacity and flight support infrastructure. This culminated in the episode known as the “apagão aéreo” (aerial black out Analysis of testimonies of state and private sector actors regarding the “blackout” enables us to identify the flaws in the responsible state apparatus as one of the factors that led to the “blackout”. Our conclusions draw attention to the importance of taking political factors into consideration, and particularly the role of the State, in the development of air transportation in Brazil. Keywords: commercial aviation, politics and economics, regulation, Economic Sociology, Historical Institutionalism.

Gas Markets in Asia. Current situation, prospects and challenges

International Nuclear Information System (INIS)

Lecarpentier, Armelle

2013-01-01

Past and recent factors point to a remarkable growth of the Asian market in the medium and long term. This growth will depend on structural and institutional evolutions on the Asian market. Some regulatory and liberalization reforms have already been initiated to support the development of gas but this will require a long process. Oil-indexing will prevail for a long time (but which slope?) Supply flexibility must be improved (relaxation of destination clauses, quantity tolerances) to create a competitive gas market. Marketing innovations expected in new long-term contracts to enhance flexibility whilst preserving investment security. A growing portfolio approach (LNG portfolio, pipeline imports, unconventional gas) is implemented. In conclusion, regional cooperation among Asian buyers is very important

Research on service strategy of electricity selling company under the reform of electricity market

Science.gov (United States)

Long, Zhuhan; Meng, Shiyu; Dou, Jinyue; Zeng, Ming; Sun, Chenjun

2017-10-01

The opening of the sale side of electricity market is an important goal of the new round of power system reform in China, and it is necessary to speed up the establishment and development of the electricity selling companies to achieve this goal. First of all, this paper defines the key problems, which are needed to be solved in the establishment of the sale side market, such as demand side response, optimization of users' power consumption mode, profit mode of electricity selling companies and fair competition in the market. On this basis, this paper analyzes the business of electricity selling company, from the aspects of the transition of business ideas, improving the energy efficiency level, providing integrated energy solutions and innovating business management mode; and then, the service strategies of electricity selling companies are put forward.

Concertina Reforms with International Capital Mobility

DEFF Research Database (Denmark)

Kreickemeier, Udo; Raimondos-Møller, Pascalis

2006-01-01

We show that the standard concertina result for tariff reforms -i.e. loweringthe highest tariff increases welfare - no longer holds in general if we allow for international capital mobility. The result can break down if the good whose tariff is lowered is not capital intensive. If the concertina...... reform lowers welfare it lowers market access as well, thereby compromising a second goal that is typically connected with trade liberalisation.JEL-Classification: F11, F13, F15Key words: Trade Policy Reform, International Factor Mobility, Welfare, MarketAccess...

Power sector reforms in India

Energy Technology Data Exchange (ETDEWEB)

Bajaj, Harbans L; Sharma, Deepak

2007-07-01

India faces endemic electrical energy and peaking shortages. The Power Sector is plagued with mounting commercial losses due various inefficiencies, colossal commercial and technical losses and increasing subsidy burden on the states. These shortages have had a very detrimental effect on the overall economic growth of the country. In order to re-vitalise the sector and improve the techno-economic performance, the Government of India has initiated the reform process in 1991. This paper analyses the pre-reform era and identifies the key concerns which led to the initiation of the reforms. It also analyses the likely impact of the major policy and regulatory initiatives that have been undertaken since 1991 including the provisions of the new enactments which have come into force eventually in the form of The Electricity Act, 2003. This paper details out the key features of the Act and its likely impact on the Indian electricity industry in the emerging scenario. The paper also discusses major issues like power trading, role of regulator in the new regime, issue of open access, introduction of power markets and role of Appellate Tribunal for Electricity in harmonizing the orders of the various regulators.

Evolving Importance of Securities Market to Ensure Economic Growth: Evidence from Armenia

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Salnazaryan Ashot

2017-12-01

Full Text Available This research aims to reveal the importance of securities market in ensuring economic growth in Armenia. In order to make the research more substantial, we also examined the impact of other financial market segments, such as insurance market and credit market, on the economic growth. To estimate the relationship between financial market segments and economic growth, an empirical research was conducted using correlation and regression techniques. The research reveals that the most significant impact on the economic growth among Armenian financial market segments has the credit market of Armenia. There is no significant relationship between economic growth and insurance, as well as corporate securities market. It is pointed out in the research, that the evolving importance of the role of securities market in the economic growth is not yet demonstrated in Armenia, which, perhaps, results from the absence of interaction between securities market and economy in Armenia.

Electricity reforms, democracy and technological change. (Electricity systems, 'market liberalization' reforms, internationalisation, and the need for new democratic governance system - the Danish case)

International Nuclear Information System (INIS)

Hvelplund, F.

2001-07-01

At the end of the 1990s, Danish energy policy reached a turning point because of technical challenges due to the high proportion of fluctuating wind power production and the increased cogeneration share, and because of new regulation regimes being introduced in Denmark and its neighbouring countries. In this specific historical situation, with the above background, the questions that will be analysed in this publication are as follows: 1) Which governance systems are most efficient, with regard to achieving optimal goal performance by means of the present typical uranium/fossil fuel electricity supply systems? 2) Which governance systems are the most efficient in the transformation process from the present uranium/fossil fuel electricity supply systems to renewable energy-/conservation based electricity system? 3) Which changes in goal performance of the Danish electricity supply system has the 1999 Danish electricity 'liberalization' reform induced? 4) Will the Danish electricity supply system be able to maintain its consumer ownership institutions and remain independent of the 'third party' shareholder ownership structure after the 1999 Danish 'liberalization' reform? a) Are the Danish electricity companies able to compete on the Danish electricity market with foreign suppliers? b) Will the Danish energy companies be able to compete on the market for energy capital goods, or will foreign companies, for instance German power companies, buy them? Will the Danish consumer ownership model survive? c) Will the Danish 'flat' price structure survive on the future electricity market? d) Will the 1975-2000 energy technology innovation process survive under the new market conditions? How will conditions on the German market influence this development? The relevance of these questions is particulary enhanced when seen in relation to the goals of international, and especially Danish, energy policy. The main question therefore, is: will the development outlined under 1

LAND REFORM IN UKRAINE: HISTORIOGRAPHICAL ANALYSIS

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Barantsov B.

2016-05-01

Full Text Available Modern land reform, that continues in Ukraine since the beginning of the 90-th of ХХ century, is a logical result of the functioning of society and the state.. It’s prerequisites becames, especially full monopolization of state on ownership of land; absence of payment for land as one of the means of ensuring the rational use of lands; absence on workers motivation for intensive work on the land, etc.. These and other preconditions contributed to soil degradation, production of agricultural products with exceeding of maximum allowable concentrations of pollutants, development of diseases, undermine the gene pool of nature and man. Mentioned reasons determined the goal and objectives of modern land reform, which were originally set out in the preamble to the Resolution of the Verkhovna Rada of Ukraine from December 18, 1990 «On Land Reform» with following changes and additions, and in the implementation of the land-reformation measures gained more complete content. Conducted analysis shows that land reform in Ukraine leads to a change of ownership of land, contributes to solving problems of citizens by land plots, enactment of payment for land usecreation of conditions for the development of land market. Thus changing land relations, is formed legal and regulatory framework of land reform and land market. However, positive developments in the implementation of land reform to end of the 90-th years have not led to a radical and effective upgrade of agricultural production, recovery of investment processes in other branches of industry, improving of welfare of the population. Land reform measures didn’t receive adequate financial support. The ultimate goal - an economically-effective and environmentally safe use of land in Ukraine - has not been achieved. Further reforming of land relations contributed to the adoption in October 2001 of the Land Code of Ukraine in the new edition that created the legal principles of land reform. Since it�

A summary and update of developing annuities markets : the experience of Chile

OpenAIRE

Rocha, Roberto; Rudolph, Heinz P.

2010-01-01

The rapid growth of the market for retirement products in Chile has its origins in the pension reform that was implemented in 1981. But the successful development of an active annuity market also reflects many other factors. This paper summarizes and updates an earlier longer study on the development of the Chilean annuity market. The update focuses on the numerous changes that were introd...

Back to the market: yet more reform of the National Health Service.

Science.gov (United States)

Lewis, Richard; Gillam, Stephen

2003-01-01

Yet more reform of the National Health Service in England has been announced by the Department of Health. In opposition, the Labour Party criticized the creation of an "internal market" for health care by the Conservative government, but five years into the Blair administration, market incentives are to be reinvigorated and the private sector is to be embraced in ways not seen hitherto. New guidance signals the introduction of competitive contracting using cost-per-case currencies, more choice for patients in where they will receive hospital treatment, and the freeing of NHS care providers from the direct political control of ministers. It is intended that the monopolistic features of the NHS in England should give way to greater pluralism, in particular through contracts with privately owned health care organizations. However, there is little evidence to suggest that these policies will be effective, and a number of practical problems may obstruct implementation.

Globalization, capital market and economic development in Nigeria

Directory of Open Access Journals (Sweden)

Olanrewaju Adewole Adediran

2015-01-01

Full Text Available This article examines the economic integration caused by globalization and effect of capital market in Nigeria context. It establishes the type of relationship and level of significance of globalization and capital market on the economic development. Globalization concept is framed as import plus export divided by growth ratio. The capital market was determined in terms of proxy (by GDP by price index. The growth ratio assessed the level of development using econometric model. The results suggest that sound economic reform and financial policies are necessary to achieve sustainable development in Nigeria. However, there is need to increase exports, reduce imports and control exchange rate for Nigeria to achieve sustainable economic development.

Bending the curve through health reform implementation.

Science.gov (United States)

Antos, Joseph; Bertko, John; Chernew, Michael; Cutler, David; de Brantes, Francois; Goldman, Dana; Kocher, Bob; McClellan, Mark; McGlynn, Elizabeth; Pauly, Mark; Shortell, Stephen

2010-11-01

In September 2009, we released a set of concrete, feasible steps that could achieve the goal of significantly slowing spending growth while improving the quality of care. We stand by these recommendations, but they need to be updated in light of the new Patient Protection and Affordable Care Act (ACA). Reducing healthcare spending growth remains an urgent and unresolved issue, especially as the ACA expands insurance coverage to 32 million more Americans. Some of our reform recommendations were addressed completely or partially in ACA, and others were not. While more should be done legislatively, the current reform legislation includes important opportunities that will require decisive steps in regulation and execution to fulfill their potential for curbing spending growth. Executing these steps will not be automatic or easy. Yet doing so can achieve a healthcare system based on evidence, meaningful choice, balance between regulation and market forces, and collaboration that will benefit patients and the economy (see Appendix A for a description of these key themes). We focus on three concrete objectives to be reached within the next five years to achieve savings while improving quality across the health system: 1. Speed payment reforms away from traditional volume-based payment systems so that most health payments in this country align better with quality and efficiency. 2. Implement health insurance exchanges and other insurance reforms in ways that assure most Americans are rewarded with substantial savings when they choose plans that offer higher quality care at lower premiums. 3. Reform coverage so that most Americans can save money and obtain other meaningful benefits when they make decisions that improve their health and reduce costs. We believe these are feasible objectives with much progress possible even without further legislation (see Appendix B for a listing of recommendations). However, additional legislation is still needed to support consumers �

China's large-scale power shortages of 2004 and 2011 after the electricity market reforms of 2002: Explanations and differences

International Nuclear Information System (INIS)

Ming, Zeng; Song, Xue; Lingyun, Li; Yuejin, Wang; Yang, Wei; Ying, Li

2013-01-01

Since the electricity market reforms of 2002, two large-scale power shortages, one occurring in 2004 and one in 2011, exerted a tremendous impact on the economic development of China and also gave rise to a fierce discussion regarding electricity system reforms. In this paper, the background and the influence scale of the two power shortages are described. Second, reasons for these two large-scale power shortages are analyzed from the perspectives of power generation, power consumption and coordination of power sources and grid network construction investments. Characteristics of these two large-scale power shortages are then summarized by comparatively analyzing the performance and the formation of the reasons behind these two large-scale power shortages. Finally, some effective measures that take into account the current status of electricity market reforms in China are suggested. This paper concludes that to eliminate power shortages in China, both the supply and the demand should be considered, and these considerations should be accompanied by supervisory policies and incentive mechanisms. - Highlights: • Reasons of these two large-scale power shortages are analyzed. • Characteristics of these two large-scale power shortages are summarized. • Some effective measures to eliminate power shortage are suggested

The Difficult Transition of the Italian University System: Growth, Underfunding and Reforms

Science.gov (United States)

Turri, Matteo

2016-01-01

The evolution of Italian universities in terms of growth, economic sustainability and reforms can be interpreted in the light of the élite, mass and universal access categories defined by Martin Trow. The findings from this analysis show that although the number of enrolled students and funding problems propel the Italian university system towards…

The Market for Smart Growth

Science.gov (United States)

Based on several studies of market demand, the authors determined that consumer demand for smart growth would translate into more than 600,000 houses out of the approximately 2 million new housing units built in 2007.

Pockets of opportunity: multicultural marketing strategies for BEP growth.

Science.gov (United States)

Schaefer, Kelly

2003-01-01

Ranked among the 50 largest food service corporations in America, the Randolph-Sheppard Business Enterprise Program (BEP) represents a challenging and rewarding career opportunity for Americans who are legally blind. In recent years, however, the number of facilities and facility managers has declined. Multicultural consumers represent a major emerging growth market. The multicultural market is one of the most overlooked retail markets in the United States--and the one with the most buying power and growth potential. Multicultural marketing is among the least understood strategies available to facility managers, vocational rehabilitation counselors and BEP directors. Four major minority markets are discussed and marketing strategies are offered to help BEPs target and serve these unique consumers.

Chicken or egg : financial development and economic growth in China, 1992-2004

NARCIS (Netherlands)

Fan, Xuejun; Jacobs, Jan; Lensink, Robert

2005-01-01

This paper contributes to the empirical finance-growth literature by examining the relationship between financial depth, banking sector development, stock market development and economic growth in China. After an extensive survey on recent financial reforms in China, we apply Granger (non-)causality

Micro Level Perspectives on Growth (Tanzania) | IDRC ...

International Development Research Centre (IDRC) Digital Library (Canada)

Poverty reduction through growth is the idea behind the market-oriented reforms that Tanzania has undertaken since the mid-1980s. However, poverty is still ... Outputs. Papers. Private sector development in Tanzania : opportunities, challenges and strategic interventions to enhance competitiveness; final report. 42201.

Market integration: The EU experience and implications for regulatory reform in China

NARCIS (Netherlands)

Philipsen, N.J.; Weishaar, Stefan; Xu, G.

2016-01-01

This book examines the relationship between regulation and market integration, with a special focus on China. It pursues a Law and Economics and Comparative Law approach (China and EU) to analyze the current obstacles to market integration and domestic economic growth in China. Topics covered at the

136 Tax Revenue, Stock Market and Economic Growth of Pakistan

Directory of Open Access Journals (Sweden)

Muhammad Irfan Javaid Attari

2014-10-01

Full Text Available The purpose of this paper is to examine the effects of capital market and fiscal policy influences in determining the nexus of economic growth in Pakistan from July 2003 to July 2012. The authors utilize ADF unit root test, Johansen Cointegration test, VECM test, Granger causality test and variance decomposition analysis to test the relationship among tax revenue, stock market and economic growth in Pakistan. Granger causality analysis is used to answer questions whether “Does tax revenue cause the economic growth?” or “Does tax revenue cause the capital market?”. The results demonstrate that there is a bidirectional casualty between tax revenue and economic growth; and a unidirectional causality from capital market to tax revenue. The estimated result shows that growth of Pakistan economy is strongly contributed from the high collection of direct tax revenue and the development of financial market activity. The findings of this paper have important implications to current and potential investors in Pakistan economy to understand the economic condition of Pakistan and to assist them in making their investment decision.

Steepest Ascent Tariff Reforms

DEFF Research Database (Denmark)

Raimondos-Møller, Pascalis; Woodland, Alan D.

2006-01-01

a theoretical concept where the focus is upon the size of welfare gains accruing from tariff reforms rather than simply with the direction of welfare effects that has been the concern of theliterature.JEL code: F15.Keywords: Steepest ascent tariff reforms; piecemeal tariff policy; welfare; market access; small......This paper introduces the concept of a steepest ascent tariff reform for a small open economy. By construction, it is locally optimal in that it yields the highest gain in utility of any feasible tariff reform vector of the same length. Accordingly, it provides a convenient benchmark...... for the evaluation of the welfare effectiveness of other well known tariff reform rules, as e.g. the proportional and the concertina rules. We develop the properties of this tariff reform, characterize the sources of the potential welfare gains from tariff reform, use it to establish conditions under which some...

Capital Market Development: A Spur to Economic Growth in Nigeria

Directory of Open Access Journals (Sweden)

Ismail O. Fasanya

2013-10-01

Full Text Available This paper examines the relationship between capital market development and Nigeria’s economic growth using data covering the range of 1981 to 2010 using a Johansen Cointegration technique to test for long run relationship among the variables under study. The empirical findings from the research work suggest that the capital market is an essential catalyst for economic growth and is on the average and beneficial to the economy. However, the high costs of raising capital and structural imbalances in the market as well as inconsistent government policies may distorts the speedy growth of the market and thus, limit its positive impact on the economy.

Croatian Energy Sector Reform - Results Achieved

International Nuclear Information System (INIS)

Nota, R.

2001-01-01

During the past ten years, the energy sector has passed through significant changes including fundamental market, economic, legislative and institutional aspects of sector operation. As the main goal of the Republic of Croatia is the integration into the European Union, the energy sector reform ought to be conducted in keeping with the present market development processes of the EU in such a way as to fulfil all safety criteria. In view of the above mentioned, the Croatian Parliament brought a number of laws during its session in July 2001 (''Official Gazette'' 68/01): 1. Energy Law 2. Energy Activities Regulation Law 3. Electricity Market Law 4. Gas Market Law 5. Oil and Oil Derivatives Market Law, which present the commencement of the energy sector reform (www.mingo.hr).(author)

The Brazilian electrical system reform

International Nuclear Information System (INIS)

Mendonca, A.F.; Dahl, C.

1999-01-01

Although the Brazilian electrical system has been a public monopoly, the threat of electricity shortages from a lack of investment triggered a comprehensive reform. In 1993 the government began a series of laws, decrees and regulations reforming the tariff policy, allowing privatization of utilities, foreign investments and independent power producers, and creating an independent transmission grid and a new electricity regulatory agency (ANEEL). The new regulatory framework is not completely defined but the proposed model intends to transform bulk electricity supply into a competitive market similar to that adopted in England. Our objective is to evaluate whether the proposed reform will succeed in attracting the required private capital, will allow an unregulated wholesale electricity market and will require a strict regulatory framework. The reform has been quite successful in privatizing the distribution companies but is allowing monopolistic rents, and has failed until now to attract private investments to expand generation capacity. The risk of blackouts has increased, and the proposed wholesale electricity market may not be appropriate because of barriers to constructing new hydroelectric units, now 90% of the system. Therefore, a new regulatory framework and a strong regulatory agency with a well-defined tariff policy should have preceded the privatization. (author)

The Tax Reform of Romania Since the Transition to Market Economy

Directory of Open Access Journals (Sweden)

Dan Tudor LAZĂR

2005-10-01

Full Text Available This paper is trying to analyze the financial and fiscal reforms in Romania since 1989. The study is based on the necessity to be built a new fiscal system that meets the market economy’s requirements. The main concentration is focused on the debate of choosing tax policy. There are presented the two models of variation of income tax policy followed by Eastern European countries: flat income tax – a simple, efficient, but inequitable system (Estonia, Russia, Romania, etc. and progressive income tax – a complex, inefficient, but equitable system (Hungary, Czech Republic, Slovenia, etc. At the end of this article are presented, also the main advantages and disadvantages of this these tax policies based on national statistics and other countries experiences.

Policy options when giving negative externalities market value. Clean energy policymaking and restructuring the Western Australian energy sector

International Nuclear Information System (INIS)

McHenry, Mark

2009-01-01

Uncertainty surrounds the choice of instruments that internalise fossil-fuel pollution at the local, regional and global level. This work outlines the considerable growth in the Western Australian (WA) energy sector and explores the available options and potential hazards of using specific instruments to internalise externalities. These core options are discussed with respect to liberalising energy markets, providing private investment certainty, and imparting commentary on the developments and consequences of reform in the WA context. As a large energy exporter, providing certainty for the WA energy sector investment and the community is necessary to maintain the current prosperity. Remarkably, in the decades of market reform progress, the absence of one essential element is evident: economic externalities. Policymakers are under increasing pressure to understand economic reform, new energy markets and the multifaceted repercussions they entail. With modern energy reform sitting squarely within the milieu of more efficient governments and climate policy, there are clear economic advantages to internalising negative and positive externalities and other market distortions during energy market developments. Ignoring market failures when commercialising government-owned energy utilities in de-regulated and competitive markets invites continued ad-hoc government interference that generates investment uncertainty in addition to a perplexed electorate. (author)

Economic Growth Models Transition

Directory of Open Access Journals (Sweden)

Coralia Angelescu

2006-03-01

Full Text Available The transitional recession in countries of Eastern Europe has been much longer than expected. The legacy and recent policy mistakes have both contributed to the slow progress. As structural reforms and gradual institution building have taken hold, the post-socialist economics have started to recover, with some leading countries building momentum toward faster growth. There is a possibility that in wider context of globalization several of these emerging market economies will be able to catch up with the more advanced industrial economies in a matter of one or two generations. Over the past few years, most candidate countries have made progress in the transition to a competitive market economy, macroeconomic stabilization and structural reform. However their income levels have remained far below those in the Member States. Measured by per capita income in purchasing power standards, there has been a very limited amount of catching up over the past fourteen years. Prior, the distinctions between Solow-Swan model and endogenous growth model. The interdependence between transition and integration are stated in this study. Finally, some measures of macroeconomic policy for sustainable growth are proposed in correlation with real macroeconomic situation of the Romanian economy. Our study would be considered the real convergence for the Romanian economy and the recommendations for the adequate policies to achieve a fast real convergence and sustainable growth.

Economic Growth Models Transition

Directory of Open Access Journals (Sweden)

Coralia Angelescu

2006-01-01

Full Text Available The transitional recession in countries of Eastern Europe has been much longer than expected. The legacy and recent policy mistakes have both contributed to the slow progress. As structural reforms and gradual institution building have taken hold, the post-socialist economics have started to recover, with some leading countries building momentum toward faster growth. There is a possibility that in wider context of globalization several of these emerging market economies will be able to catch up with the more advanced industrial economies in a matter of one or two generations. Over the past few years, most candidate countries have made progress in the transition to a competitive market economy, macroeconomic stabilization and structural reform. However their income levels have remained far below those in the Member States. Measured by per capita income in purchasing power standards, there has been a very limited amount of catching up over the past fourteen years. Prior, the distinctions between Solow-Swan model and endogenous growth model. The interdependence between transition and integration are stated in this study. Finally, some measures of macroeconomic policy for sustainable growth are proposed in correlation with real macroeconomic situation of the Romanian economy. Our study would be considered the real convergence for the Romanian economy and the recommendations for the adequate policies to achieve a fast real convergence and sustainable growth.

The Impact of the Reform of the Italian Higher Education System on the Labour Market for Young Graduates

Science.gov (United States)

Potestio, Paola

2014-01-01

This article assesses the effectiveness of a reform of the higher education system aimed at stimulating employability and faster access to the labour market for Italian graduates. Using the Taylor formula, the evolution of the employment rates has been followed through the movements and interaction of activity and unemployment rates. The progress…

Drawing on international experience to reform the Belgian market for ostomy appliances.

Science.gov (United States)

Simoens, Steven; Van den Steen, Dirk; Vanleene, Veerle; De Maré, Luc; Moldenaers, Ingrid; Debruyne, Hans; Ramaekers, Dirk

2007-02-01

This article aims to review the regulatory framework governing the Belgian ostomy appliance market in the light of the experience of Denmark, France, the Netherlands and Ontario (Canada) with regulation of ostomy appliances. Information about the regulatory framework was derived from the international literature, analysis of legal texts and a survey completed by national experts. The comparative analysis revealed that these countries have adopted varying approaches towards regulating their domestic ostomy appliance market. Strategies to keep down prices include public procurement in Denmark, maximum prices in France and exclusion of expensive appliances from reimbursement in the Netherlands. To contain public expenditure on ostomy appliances, consumption patterns are monitored in the Netherlands, the quantity of reimbursed appliances is limited in Belgium and public reimbursement is restricted in Ontario. Ostomy appliances are generally distributed by community pharmacies and medical equipment shops. In countries that emphasise home care delivery such as Denmark, domiciliary distributors dominate the market to the detriment of community pharmacies which do not seem to be able to offer this service at a competitive price. An avenue for reforming the Belgian ostomy appliance market is proposed which valorizes the role of ostomy care nurses in guiding the choice of ostomy appliances. Furthermore, it is recommended that a competitive tendering process determines the price of ostomy appliances, that reimbursement for service provision by distributors is separated from reimbursement of appliances, and that patients receive a fixed grant from the third-party payer to buy ostomy appliances.

Unexpected attitudinal growth in a course combining reformed curricula

Directory of Open Access Journals (Sweden)

Michael M. Hull

2016-01-01

Full Text Available In this paper, we show data from the Colorado Learning Attitudes about Science Survey that suggests that Georgetown physics majors become increasingly expert in their attitudes towards physics learning and knowing after taking a course that combines two reformed curricula, Matter and Interactions (M&I and Tutorials in Introductory Physics (TIPs. This occurs even though the two curricula do not send a consistent epistemological message to students. We analyze interview video data of two of these students to illustrate examples of this growth. We examine video data of one of these students in a tutorial session to describe a possible mechanism that may have contributed to the growth. Finally, we compare this qualitative video data with quantitative data from the newly developed Perceptions of Physics Classes survey and discuss aggregate responses to this survey in considering the ways in which other students developed more expertlike attitudes in this course. We conclude that the attitudinal growth observed cannot be explained simply “as the result of” either M&I or of TIPs but rather find the most plausible explanation to be that the growth is an emergent phenomena produced by M&I and TIPs working together in concert with other factors.

Gradual reforms and the emergence of energy market in China: Evidence from tests for convergence of energy prices

International Nuclear Information System (INIS)

Ma Hengyun; Oxley, Les; Gibson, John

2009-01-01

This study investigates the emergence of energy markets by testing for convergence of energy prices with a new dataset on energy spot prices in 35 major cities in China. Both descriptive statistics and unit root are employed to test the convergence of energy prices for each of four fuel price series. The whole study period is divided into two sub-periods in order to reconcile the gradual energy reforms. The results show the steady improvement in energy market performance in China, especially during the second sub-period, which suggests that the market appears to be playing an increasing role in determining energy prices. While panel unit root tests show energy markets are integrated in China as a whole, city-by-city univariate unit root tests suggest that there are still many regional energy markets, probably because energy reserves (especially coal) vary widely across regions. Since China's energy economy is gradually moving towards market-oriented mechanisms, the existing literature may become obsolete soon.

Trade reforms, market access, and poverty in Argentina

OpenAIRE

Porto, Guido G.

2003-01-01

Much of the literature that studies the relationship between trade and poverty in developing countries focuses on the effects of national trade reforms, such as own tariff reductions. In contrast, the World Trade Organization negotiations at the Doha Round were more concerned with the poverty effects on low-income countries, and of foreign reforms, such as the elimination of agricultural s...

Emerging markets and the international financial architecture: a blueprint for reform

Directory of Open Access Journals (Sweden)

JAN KREGEL

2015-06-01

Full Text Available If emerging markets are to achieve their objective of joining the ranks of industrialized, developed countries, they must use their economic and political influence to support radical change in the international financial system. This working paper recommends John Maynard Keynes's "clearing union" as a blueprint for reform of the international financial architecture that could address emerging market grievances more effectively than current approaches. Keynes's proposal for the postwar international system sought to remedy some of the same problems currently facing emerging market economies. It was based on the idea that financial stability was predicated on a balance between imports and exports over time, with any divergence from balance providing automatic financing of the debit countries by the creditor countries via a global clearinghouse or settlement system for trade and payments on current account. This eliminated national currency payments for imports and exports; countries received credits or debits in a notional unit of account fixed to national currency. Since the unit of account could not be traded, bought, or sold, it would not be an international reserve currency. The credits with the clearinghouse could only be used to offset debits by buying imports, and if not used for this purpose they would eventually be extinguished; hence the burden of adjustment would be shared equally - credit generated by surpluses would have to be used to buy imports from the countries with debit balances. Emerging market economies could improve upon current schemes for regionally governed financial institutions by using this proposal as a template for the creation of regional clearing unions using a notional unit of account.

Key findings from HSC's 2010 site visits: health care markets weather economic downturn, brace for health reform.

Science.gov (United States)

Felland, Laurie E; Grossman, Joy M; Tu, Ha T

2011-05-01

Lingering fallout--loss of jobs and employer coverage--from the great recession slowed demand for health care services but did little to slow aggressive competition by dominant hospital systems for well-insured patients, according to key findings from the Center for Studying Health System Change's (HSC) 2010 site visits to 12 nationally representative metropolitan communities. Hospitals with significant market clout continued to command high payment rate increases from private insurers, and tighter hospital-physician alignment heightened concerns about growing provider market power. High and rising premiums led to increasing employer adoption of consumer-driven health plans and continued increases in patient cost sharing, but the broader movement to educate and engage consumers in care decisions did not keep pace. State and local budget deficits led to some funding cuts for safety net providers, but an influx of federal stimulus funds increased support to community health centers and shored up Medicaid programs, allowing many people who lost private insurance because of job losses to remain covered. Hospitals, physicians and insurers generally viewed health reform coverage expansions favorably, but all worried about protecting revenues as reform requirements phase in.

Market Access and Welfare

DEFF Research Database (Denmark)

Raimondos-Møller, Pascalis; Woodland, Alan D.

2015-01-01

Well known tariff reform rules that are guaranteed to increase welfare will not necessarily increase market access, while rules that are guaranteed to increase market access will not necessarily increase welfare. The present paper proposes a new set of tariff reforms that can achieve both...

The impact of capital markets on the economic growth in South Africa

Directory of Open Access Journals (Sweden)

Queen Sarah Khetsi

2015-03-01

Full Text Available Capital markets are institutions that actively play a role in the development of an economy. This study investigates the impact of capital markets on economic growth in South Africa from 1971-2013. The results indicated that there is a positive relationship between economic growth and capital markets in South Africa. Furthermore, the country should focus on factors that contribute to the development of capital markets, such as the development of financial institutions. The study contributes to the existing body of empirical literature with regards to economic growth and capital markets, especially with reference to stock markets as South Africa has one of the largest stock markets (JSE in the world.

The monopolistic integrated model and health care reform: the Swedish experience.

Science.gov (United States)

Anell, A

1996-07-01

This article reviews recent reforms geared to creating internal markets in the Swedish health-care sector. The main purpose is to describe driving forces behind reforms, and to analyse the limitations of reforms oriented towards internal markets within a monopolistic integrated health-care model. The principal part of the article is devoted to a discussion of incentives within Swedish county councils, and of how these incentives have influenced reforms in the direction of more choices for consumers and a separation between purchasers and providers. It is argued that the current incentives, in combination with criticism against county council activities in the early 1990's, account for the present inconsistencies as regards reforms. Furthermore, the article maintains that a weak form of separation between purchasers and providers will lead to distorted incentives, restricting innovative behaviour and structural change. In conclusion, the process of reforming the Swedish monopolistic integrated health-care model in the direction of some form of internal market is said to rest on shaky ground.

Empirical Analysis of the Impact of Capital Market on Economic ...

African Journals Online (AJOL)

The Nigerian capital market had not been performing effectively in terms of providing long term capital needed by firms to finance capital projects. This cast doubts on its ability to meaningfully enhance the growth of the economy against the apriori expectations amidst different reforms that were introduced by the government ...

Essays on predictability of emerging markets growth and financial performance

OpenAIRE

Banegas, Maria Ayelen

2011-01-01

This dissertation seeks to better understand the underlying factors driving financial performance and economic activity in international markets. The first chapter "Predictability of Growth in Emerging Markets: Information in Financial Aggregates" tests for predictability of output growth in a panel of twenty-two emerging market economies. I use pooled panel data methods that control for endogeneity and persistence in the predictor variables to test the predictive power of a large set of fina...

How Stock Markets Development Affect Endogenous Growth Theory

Directory of Open Access Journals (Sweden)

Najeb Masoud

2013-10-01

Full Text Available This paper can bedescribed as a significant exploratory study that will provide a significantcontribution to knowledge to consider crucial issues which need to be barriersto understanding or a temptation/ requirement to judge some practices as‘better’ than others for stock market development effective approach andimplement successful stock market performance and economic growth. Recentanalysis of the link between financial development and growth, gained frominsights acquired as a result of using the technique of endogenous growthmodels, has illustrated that growth without exogenous technical progress andthat growth rates could be related to technology, income distribution andinstitutional arrangements. This provides the theoretical background thatempirical studies have lacked; illustrating that financial intermediationaffects the level of economic growth. Resulting models have provided newimpetus to empirical research of the effects of financial development. Thebirth of the new endogenous growth theory has facilitated the development ofimproved growth models where the long-term rate could be affected by a numberof elements. These included technology, education and health policies in theprocess of economic development, capital accumulation, government policies andinstitutional activities in the role of financial development in economicgrowth.

Market-oriented health care reforms: trends and future options.

Science.gov (United States)

van de Ven, W P

1996-09-01

In many (predominantly) publicly financed health care systems market-oriented health care reforms are being implemented or have been proposed. The purpose of these reforms is to make resource allocation in health care more efficient, more innovative and more responsive to consumers preferences while maintaining equity. At the same time, the advances in technology result in a divergence of consumers' preferences with respect to health care and urge society to (re)think about the meaning of the solidarity principle in health care. In this paper we indicate some international trends in health care reforms and explore some potential future options. From an international perspective we can observe a trend towards universal mandatory health insurance, contracts between third-party purchasers and the providers of care, competition among providers of care and a strengthening of primary care. These trends can be expected to continue. A more controversial issue is whether there should also be competition among the third-party purchasers and whether in the long run there will occur a convergence towards some "ideal" model. Although regulated competition in health care can be expected to yield more value for money, it might yield both more efficiency and higher total costs. It has been argued that equity can be maintained in a competitive health care system if we interpret equity as "equal access to cost-effective care within a reasonable period of time". Because the effectiveness of care has to be considered in relation to the medical indication and the condition of the patient, the responsibility for cost-effective care rests primarily with the providers of care. Guidelines and protocols should be developed by the profession and sustained by financial incentives embedded in contracts. It has been argued that the third-party purchasers could start to concentrate on the contracts with the primary care physicians. Contracts with other providers could then be a natural

Reforming Romanian energy policy

International Nuclear Information System (INIS)

Perkins, S.

1993-01-01

Success in reforming energy sector depends on the implementation of the programme of economic reform agreed in February 1993. The difficulty of the negotiations between the International Monetary Fund and the Romanian government reflects the wider difficulties faced by the economy as a whole. They can be blamed in part on the legacy of uneconomic and inflexible industrial development and in part on opposition from interest groups which stand to lose from reform. Nonetheless, in spite of hesitant approach, the government does appear committed to the economic reform necessary to establish a market-oriented economy. But as the danger of a financial crisis engendered by the inadequately supported short-term borrowing of foreign exchange becomes urgent, the question is whether economic reform can be now implemented fast enough to protect economic enterprises and saving from a debt crisis. The scope for further delay in implementing the 1993 economic reform programme is fast disappearing. Procrastination should not be allowed to threaten the success of the reforms achieved in the energy and other sectors of the economy. 8 refs., 2 figs

The Two German Labour Market Miracles: Blueprints for Tackling the Unemployment Crisis?

OpenAIRE

Holger Bonin

2012-01-01

The article reviews the factors underlying Germany's exceptional labour market performance since 2005. It attributes labour market turnaround to powerful social reforms strengthening labour supply and effectiveness of public employment services, assisted by cooperative social partners moderating wage growth. In the great recession, ongoing transition to low-unemployment equilibrium, peculiarities in the export cycle, and private arrangements supporting labour hoarding, rather than discrete po...

Electricity market 2000

Energy Technology Data Exchange (ETDEWEB)

Korsfeldt, T.; Petsala, B.

2000-08-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have a common electricity market since 1996.The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition,to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the present publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic markets.The publication includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment.

Electricity market 2000

International Nuclear Information System (INIS)

Korsfeldt, T.; Petsala, B.

2000-08-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have a common electricity market since 1996.The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition,to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the present publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic markets.The publication includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment

Product Market Integration, Comparative Advantages and Labour Market Performance

DEFF Research Database (Denmark)

Andersen, Torben M.; Rose Skaksen, Jan

2004-01-01

of the specialization gains are similar to anincrease in labour productivity, whereas the labour market reform effectis similar to an increase in the degree of competition in the labourmarket. Wages, employment and welfare increase as a result of furtherproduct market integration. It is interesting to note......In this paper, we set up a two-country general equilibrium modelwhere trade unions have wage bargaining power. We show that adecrease in trade distortions inducing further product market integrationgives rise to specialization gains as well as a labour market reformeffect. The implications...... that the labourmarket reform effect of product market integration is achieved despitean increase in the wage level.JEL Classification: F15, J30, J50.Keywords: Trade frictions, wage formation, employment, welfaregains....

Social Justice and Resisting Neoliberal Education Reform in the USA

Science.gov (United States)

Au, Wayne

2016-01-01

Efforts to reform public education along free-market, corporate-styled models have swept across many nations. In the USA these reforms have included an intense focus on the use of high-stakes, standardized tests to quantify students, teachers, and schools for market comparisons, the deprofessionalization of teaching, and the establishment of…

Inequality, Credit Market Imperfection, Segmentation and Economic Growth

NARCIS (Netherlands)

Zhu, D.

2001-01-01

This paper investigates how initial inequality can causally affect economic growth when moral hazard problems exist in credit markets.Two regimes of the credit markets aiming at overcoming the moral hazard problems are analyzed.The formal one such as bank relies on intermediary between borrowers and

Managing risk selection incentives in health sector reforms.

Science.gov (United States)

Puig-Junoy, J

1999-01-01

The object of the paper is to review theoretical and empirical contributions to the optimal management of risk selection incentives ('cream skimming') in health sector reforms. The trade-off between efficiency and risk selection is fostered in health sector reforms by the introduction of competitive mechanisms such as price competition or prospective payment systems. The effects of two main forms of competition in health sector reforms are observed when health insurance is mandatory: competition in the market for health insurance, and in the market for health services. Market and government failures contribute to the assessment of the different forms of risk selection employed by insurers and providers, as the effects of selection incentives on efficiency and their proposed remedies to reduce the impact of these perverse incentives. Two European (Netherlands and Spain) and two Latin American (Chile and Colombia) case studies of health sector reforms are examined in order to observe selection incentives, their effects on efficiency and costs in the health system, and regulation policies implemented in each country to mitigate incentives to 'cream skim' good risks.

Market reform and universal coverage: avoid market failure.

Science.gov (United States)

Enthoven, A

1993-02-01

Determining the marketing mix for hospitals, especially those in transition, will require critical analysis to guard against market failure. Managed competition requires careful planning and awareness of pricing components in a free-market situation. Alain Enthoven, writing for the Jackson Hole Group, proposes establishment of a new national system of sponsor organizations--Health Insurance Purchasing Cooperatives--to function as a collective purchasing agent on behalf of small employers and individuals.

Bank market power, factor reallocation, and aggregate growth

NARCIS (Netherlands)

Inklaar, Robert; Koetter, Michael; Noth, Felix

Using a unique firm-level sample of approximately 700,000 firm-year observations of German small and medium-sized enterprises (SMEs), this study seeks to identify the effect of bank market power on aggregate growth components. We test for a pre-crisis sample whether bank market power spurs or

INDIAN CAPITAL MARKET REVIEW: ISSUES, DIMENSIONS AND PERFORMANCE ANALYSIS

Directory of Open Access Journals (Sweden)

Mohd. Shamim Ansari

2012-12-01

Full Text Available The purpose of an efficient capital market is to mobilize funds from those who have it and route each them to those who can utilize it in the best possible way. India’s financial market is multi-facet but not balanced. It has state of art equity market but relatively less developed and immature corporate bond market. The Indian capital market in the recent year has undergone a lot of innovation in term regulation and mode of operation. A well developed corporate bond market is also essential for financial system stability, efficiency and overall economic growth. However, If we look at the scenario of capital market in India we find that Indian households have traditionally preferred parking their surpluses in bank deposits, government savings schemes and less than 10% of their investments in financial assets in shares, debentures and mutual funds. The Indian capital market has recently put the worst behind and moved towards strong growth. In this back drop the present paper aims to (i identify various grey points of Indian capital market; (ii Evaluated how it performed during post financial crisis period; and (iii suggests necessary policy reforms for a relatively mature capital market.

Power market restructuring in Asia : Russia, China, India, and Japan

International Nuclear Information System (INIS)

Hammons, T.J.; Zhong, J.; Mukhopadhyay, S.; Kurihara, I.

2008-01-01

Many countries are now in the process of deregulating their power industries in order to promote growth and competitiveness. This paper discussed power market restructuring activities in Russia, China, India and Japan. Economic convergence points in Russian and Asian power markets were reviewed. The state of Russia and China's power industry after the implementation of recent power restructuring initiatives was discussed. Technical characteristics of the industries were evaluated, and market development plans were outlined. Regional electricity markets in Asia were discussed, as well as issues related to domestic and foreign investment. Institutional reforms were reviewed, and individual outlines of revisions for the power industries of the 4 countries were presented. The study demonstrated that structuring processes vary from country to country. Differences in restructuring patterns were attributed to economic differences; country-specific features established within the electric power industry; and attitudes towards deregulation. It was concluded that the reforms adopted by the countries will lead to the expansion of national electric power systems. 23 refs., 4 tabs., 6 figs

Dynamics of risk management tools and auctions in the second phase of the Brazilian Electricity Market reform

International Nuclear Information System (INIS)

De Souza, Fabio Cavaliere; Legey, Luiz Fernando Loureiro

2010-01-01

In 2004, the reform of the Brazilian Electricity Market underwent a thorough revision. One of its causes was the electricity rationing that began in June 2001 and lasted until February 2002. Among other measures, the 2004 revision devised new mechanisms intended to reduce risks associated to contracts settled in electricity auctions and those related to investments in new generation plants. As 4 years have passed since the onset of the reform's revision, sufficiently enough data are now available for an analysis of the post-revision dynamics of the Brazilian Electricity Market. This is the purpose of the present paper. We focus on the dynamics of the different types of electricity auctions and on the so-called Mechanism for Compensation of Surpluses and Deficits, both created in the wake of the 2004 revision. The ultimate goal is to understand the behavior of the agents involved in auctions - notably buyers and sellers of electricity - and propose remedial actions to eliminate existing loopholes in the present regulatory framework. To achieve this goal, four steps were necessary. Firstly, a data base to support the analysis was built. Then, the main drivers of the dynamics of the risk management tools were identified. Finally, consequences of the implemented changes were discussed and corrections for observed pitfalls proposed. (author)

The Role of Stock Market Development on Economic Growth in ...

African Journals Online (AJOL)

The method of analysis used is Ordinary Least Square (OLS) techniques. The study measures the relationship between stock market development indices and economic growth. The stock market capitalization ratio was used as a proxy for market size while value traded ratio and turnover ratio were used as proxy for market ...

Political competition, economic reform and growth : theory and evidence from transition countries

OpenAIRE

Pavletic, Ivan

2010-01-01

Which political and institutional factors trigger reforms that enable the poor to benefit from the process of economic growth? How can the incentives of policy makers be influenced in order to achieve such a dynamic? These are the questions this study seeks to address by examining the transition process in post-communist countries. The author argues that political competition within an accepted and respected institutional environment has been a driving force in shaping the direction and succe...

Tax Revenue, Stock Market and Economic Growth of Pakistan

OpenAIRE

Muhammad Irfan Javaid Attari; Roshaiza Taha; Muhammad Imran Farooq

2014-01-01

The purpose of this paper is to examine the effects of capital market and fiscal policy influences in determining the nexus of economic growth in Pakistan from July 2003 to July 2012. The authors utilize ADF unit root test, Johansen Cointegration test, VECM test, Granger causality test and variance decomposition analysis to test the relationship among tax revenue, stock market and economic growth in Pakistan. Granger causality analysis is used to answer questions whether “Does tax revenue cau...

Have Market-oriented Reforms Decoupled China’s CO2 Emissions from Total Electricity Generation? An Empirical Analysis

Directory of Open Access Journals (Sweden)

Wei Shang

2016-05-01

Full Text Available Achieving the decoupling of electric CO2 emissions from total electricity generation is important in ensuring the sustainable socioeconomic development of China. To realize this, China implemented market-oriented reforms to its electric power industry at the beginning of 2003. This study used the Tapio decoupling index, the Laspeyres decomposition algorithm, and decoupling-related data from 1993 to 2012 to evaluate the effect of these reforms. Several conclusions can be drawn based on the empirical analysis. (1 The reforms changed the developmental trend of the decoupling index and facilitated its progress towards strong decoupling. (2 The results forecasted through fitting the curve to the decoupling index indicate that strong decoupling would be realized by 2030. (3 Limiting the manufacturing development and upgrading the generation equipment of the thermal power plants are essential for China to achieve strong decoupling at an early date. (4 China should enhance regulatory pressures and guidance for appropriate investment in thermal power plants to ensure the stable development of the decoupling index. (5 Transactions between multiple participants and electricity price bidding play active roles in the stable development of the decoupling index.

The impact of resource tax reform on China's coal industry

International Nuclear Information System (INIS)

Liu, Huihui; Chen, ZhanMing; Wang, Jianliang; Fan, Jihong

2017-01-01

Contributing to approximately two-thirds of primary energy consumption, coal usage is the focus of China's energy policies. To regulate the resource taxation system and reduce the burden of coal enterprises, the Chinese government launched a reform of its resource tax system in 2014 for coal, introducing the ad valorem system to replace the volume-based system that had been in place for the preceding thirty years. To assess the impact of the tax reform, this paper constructs two-stage dynamic game models by taking the coal and coal-fired power industries as the players. The market situations of shortage and oversupply are investigated separately. Empirical data are collected to estimate the model parameters for numerical simulations. The model results suggest that the tax reform will reduce both coal prices and the coal industry profitability if the tax levied on each ton of coal is maintained at the same level as before the reform, regardless of whether the market is in a shortage or an oversupply situation. However, the increased buyer's power will amplify the effect of the tax reform. The numerical simulations also provide an estimation of the tax rate of the ad valorem system that maintains the profit of the coal industry. Considering the demand and supply situations in China's coal market, policy recommendations are provided to guide further reform of China's resource tax system. - Highlights: • The paper examines the influence of resource tax reform on China's coal industry. • We construct two-stage game models between coal and coal-fired power industries. • Market situations of shortage and oversupply are studied in two taxation systems. • Coal price will decrease if maintaining the tax levied on each ton of coal the same. • To achieve the reform objective, the ad valorem tax rate should not be set too high.

Briefly Analyze Domestic Wine Market and the International Marketing Strategy of Changyu Group

Institute of Scientific and Technical Information of China (English)

Xiaomin Wang

2013-01-01

Since the great policy of reform and opening which began in 1979 has turned up, an unprecedented vigorous development opportunity was brought for our domestic wine industry. On the one hand, the increasing in personal income level has stimulated the growth of wine consumption demand, leading to a nice development prospect for domestic wine industry;on the other hand, the dramatical y decreasing in tariff of importing wine is an undoubtedly major impact to the domestic wine industry. The competition between the enterprises is almost the same as the competition of marketing ability, the success of the marketing operation wil create rich profits resources for enterprises which wil lay a good foundation for enterprises to cultivate their ability and improve the core competitive ability. This article wil briefly analyze the marketing strategy of Changyu Group which is in the leading position of Chinese wine industry and provide the certain reference value for the same industry when they develop their own marketing strategy.

The Danish Electricity Reform - Success or Failure?

DEFF Research Database (Denmark)

Olsen, Ole Jess; Larsen, Anders

2007-01-01

implementation: market power, restructuring and regulation of the network monopoly. Even if the Danish market reform gets very good marks in the EU benchmarking, there has been major problems in all three areas. As for market power the Danish Competition Authority has accused the two large generators of abuse...

Bank Liquidity, Market Participation, and Economic Growth

OpenAIRE

Mattana, Elena; Panetti, Ettore

2012-01-01

We report evidence that bank liquidity ratios (liquid assets as a percentage of total assets) decrease during the process of economic development. To reconcile this observation with (i) the increasing importance of financial markets and (ii) the increasing direct participation of individual investors in them, we build a neoclassical growth model with banks and markets. In this environment, banks engage in cross-subsidization of the impatient depositors to keep up with the competitive pressure...

What happened to efficiency in electricity industries after reforms?

International Nuclear Information System (INIS)

Erdogdu, Erkan

2011-01-01

The last two decades have witnessed widespread power market reforms in both developed and developing countries that have cost billions of dollars. Among the key aims (and assumptions) of these reforms, there has always been realization of improvements in power sector efficiency. This paper questions the validity of this hypothesis. Using panel data from 92 countries covering the period 1982-2008, empirical models are developed and analyzed. The research findings suggest that the impact of the reforms on electricity industry performance is statistically significant but also limited. The results imply that, after controlling for country-specific variables, application of liberal market models in electricity industries slightly increases efficiency in power sector. Besides, we detect a positive relationship between reform process and the percentage share of network (transmission and distribution) losses in total electricity supplied, meaning that as countries take more reform steps the network losses as a fraction of power generated tend to increase. Moreover, the study puts forward that income level and other country specific features are more important determinants of industry efficiency than the reform process. Overall, contrary to expectations of substantial increases in sector efficiency, the paper concludes that introducing a decentralized market model with competition in the electricity sector has a limited increasing effect on power industry performance. - Highlights: → The paper questions whether the reforms increase efficiency in the power sector. → Panel data from 92 countries covering the period 1982-2008 are employed. → Models are developed by fixed/random effect panel data estimation methods. → The paper concludes the reforms have a limited effect on the industry performance. → We also find that as countries take more reform steps the network losses increase.

51 The Role of Stock Market Development on Economic Growth in ...

African Journals Online (AJOL)

User

2012-01-24

Jan 24, 2012 ... An International Multidisciplinary Journal, Ethiopia ... study measures the relationship between stock market development indices ... The stock market capitalization ratio was used as a ... market performance and economic growth. ... With well-functional financial sector or banking sector, stock markets can.

Background and Effects of Deepening Reform of the Oil and Gas Industry System

Institute of Scientific and Technical Information of China (English)

Wang Zhen

2017-01-01

Under the background of a fourth wave of industrial revolution and a period of worldwide energy transformation,deepening the reforms in the oil and gas industry system is of great significance.After reviewing the achievements and summarizing the problems of the oil and gas industry in China,this paper lays emphasis on the key aspects of this new round of deepening reforms,and holds the position that this reform,based on the implementation of the national energy strategy,covers the entire oil and gas industry chain by liberalizing market access,reforming market mechanisms,and strengthening management.The reform will bring far-reaching effects upon the entire chain and the participants of the oil and gas industry.It wilt help to improve the market-oriented allocation of resources,allow enterprises to interact as competitors,and enhance the national oil and gas security.

Turkish electricity reform

Energy Technology Data Exchange (ETDEWEB)

Bagdadioglu, Necmiddin [Department of Public Finance, Hacettepe University, 06800 Ankara (Turkey); Odyakmaz, Necmi [E.ON Holding, Armada Business Centre, 06520 Ankara (Turkey)

2009-03-15

Turkish electricity reform has progressed slowly due to internal resistance against privatisation, and gained momentum after Electricity Market Law of 2001, prepared in line with EU Energy Acquis and established required institutional and legal framework. Although the eligibility threshold has reached 39% market opening rate, the dominant position of public both as owner and decision-maker is still the major problem in the sector. Currently Turkey is self-sufficient in electricity, but likely to face shortages in 10 years if the growing demand is not met by either speeding the liberalisation process, or joining the South East Europe Electricity Market. (author)

The entry of China to the gas market: constraints and opportunities

International Nuclear Information System (INIS)

Locatelli, C.

2004-01-01

In the next 20 years, China will emerge as a major importer of gas and thus shape the energy exchanges and markets in Asia. But different constraints must be overcome. The increase of natural gas share in the Chinese energy balance will depend on the country's capacity to create a unified gas market in place and instead of the fragmented exchange's. This implies several economic and institutional reforms (such as the energy price reform). One important element that will determine the growth of the Chinese gas industry concerns the role of international investors. The growth of the Chinese gas demand would lead to a radical change oi the country's energy policy, which up until now has been dominated by the search for self-sufficiency. From this point of view, the question of the choices of the main gas suppliers is essential concerning the Chinese energy security. Different countries are in competition. But the choices of the main suppliers are very linked with the way in which China perceives its integration at the international level and in the Asian region. (author)

Liberalization of electricity markets in Quebec and France: crossed prospects

International Nuclear Information System (INIS)

Caron, Jocelyn

2011-01-01

This essay focuses on the liberalization of electricity markets in Quebec and France. As in most Western states, Quebec and France have undertaken reforms to liberalize their domestic electricity markets. Starting from a similar arrangement, namely occupied by a state monopoly, the French and Quebecois markets have evolved into a more or less liberalized model. What were the changes brought about by these reforms? What reasons have motivated them? What is the functioning of the model in place in both states? What are the prospects for these markets? To identify the issues of these reforms, this essay will be divided into four chapters. The first chapter will discuss the organization of markets in Quebec and French before the liberalizing reforms: in addition to the organization as such, this chapter will address the reasons why the two states have chosen a market controlled by the state. It emerges from this chapter that both states nationalized and regulated the electricity market to promote economic development and quality standards for a service considered public. The second chapter will examine the genesis of liberalization reforms, the different models of market organization and a summary of selected experiences of liberalization that took place both before those of Quebec and France ones. The diversity of market models and the pitfalls have lived through some states raised the fact that successful liberalization reforms is a complex process. The third chapter will analyse the reforms that changed markets in Quebec and France and more specifically, the organization of the market that has resulted. It is established that if the two markets have been forced to reform themselves by forces outside the two states, the paths that were taken differ greatly. Finally, the fourth chapter will conduct an initial assessment of the reforms and provide some forecast for the future. The reforms that have taken place in both states have produced satisfactory results taking

Public Pension Plan Reform: The Legal Framework

Science.gov (United States)

Monahan, Amy B.

2010-01-01

There is significant interest in reforming retirement plans for public school employees, particularly in light of current market conditions. This article presents an overview of the various types of state regulation of public pension plans that affect possibilities for reform. Nearly all of the various approaches to public pension plan protection…

CONSIDERATIONS ON THE ROLE OF FINANCIAL MARKETS IN ECONOMIC GROWTH

Directory of Open Access Journals (Sweden)

Carmen ALBU

2014-06-01

Full Text Available Generally accepted in economic literature, the financial market has a positive impact on growth in a modern economy. Nevertheless, due to the global crises starting in 2008, a number of authors are questioning today about this assertion. Among them, there are authors which are attributing as initial impulse to the crisis an exaggerated expansion of financial market (and non-covered on the real side of economy. In this study, based on economic literature and empirical evidences, we are presentig few considerations regarding the development of financial market during last decades and its role on economic growth.

Regulatory reform in Turkish energy industry: An analysis

International Nuclear Information System (INIS)

Erdogdu, Erkan

2007-01-01

The Republic of Turkey has initiated an ambitious reform program in the most important segments of her energy market; which requires privatization, liberalization as well as a radical restructuring of these industries. However, there is no consensus that the measures introduced are optimal. The present article attempts, first, to evaluate the regulatory framework created by the laws of 2001 in terms of economic efficiency considerations; and second, to determine what still needs to be done to improve the current situation. The paper not only provides an analysis of these reforms but also lists some policy suggestions. The study concludes that despite relatively good legislative framework, in practice, the reforms in Turkey are far from ideal as they are mainly in the form of 'textbook reforms'; and therefore a significant amount of work still lies ahead of Turkey to set up a fully fledged energy market

Between the state and market: Electricity sector reform in developing countries

International Nuclear Information System (INIS)

Jamasb, Tooraj

2006-01-01

Developing countries have had to reform technically and financially less efficient electricity sectors than developed countries with less resources and weaker institutions. This paper examines the reform experience and lessons in these countries. The paper reviews private participation and key reform steps such as restructuring, competition, and regulation. The role of contextual factors such as system size, institutional endowment, and international organizations are then discussed. It then argues that there is a need for redefining the role of the state rather than a full withdrawal from the sector and that many countries should adopt simpler reform models and gradual implementation. (author)

Securing growth markets for natural gas

International Nuclear Information System (INIS)

Evans, G.

1999-01-01

The Industry Development Strategy 2000-2005 (IDS) identifies the major growth markets for natural gas, as the industry readies itself for the challenges of the new millenium. An integral part of this process is to examine the key barriers to market expansion, and to devise strategies that both The Australian Gas Association (AGA) and the wider industry can pursue to underpin improvement in overall gas consumption. This is the task of the IDS which examines the opportunities confronting the industry over the next five year period. The significant growth prospects of the gas industry both in the short term (2000-2005) and long term (2005-2015) are indicated in two comprehensive and independent studies. The first, Australian Energy Market Developments and Projections to 2014-15, was released earlier this year by the Australian Bureau of Agricultural and Resource Economics (the ABARE Energy Report). The second, Natural Gas Consumption in Australia to 2015-Prospects by State, Industry and Sector, was commissioned by the AGA, and was completed by the National Institute of Economic and Industry Research in September 1999 (NIEIR Report). Both reports indicate that in terms of consumption levels, in the period up to 2015 the gas industry is forecast to more than double its current size. Natural gas is also projected to increase its primary energy share ranking from third to second place

Regulation and Flexibility of the Croatian Labour Market

OpenAIRE

Vedran Sosic

2004-01-01

The Croatian Labor Code was significantly reformed in 2003 as a result of extensive negotiations lasting about two years. Proponents of the reform emphasized the supposed rigidity of the labor market, resulting from restrictive employment protection legislation, as a main rationale for the reform. Critics believed that the labor market is much more flexible than often thought due to inadequate enforcement of legislation. This study aims to assess the level of labor market dynamics by construc...

Empirical Analysis of the Impact of Financial Sector Reforms on Savings Mobilization in Nigeria

Directory of Open Access Journals (Sweden)

Enobong Udoh

2017-03-01

Full Text Available This paper examines whether Nigeria witnessed considerable savings mobilization amidst financial sector reforms from 2007 to 2015 using the estimation method of Autoregressive Distributed Lag. Unlike previous papers in this area that mostly focused on interest rates liberalization thesis, this paper goes deeper by looking at financial reforms across money, capital and foreign exchange markets. The estimation results show that there are still structural rigidities in the money, foreign exchange and equity markets nexus. In that, the following variables that proxy financial sector reforms namely treasury bill yield, interest rate spread, market capitalization ratio and currency in circulation ratio (which proxy technological modernization of payment systems all went against a priori expectation. However, financial reforms had one success story in credit/loans advances to private/public sectors (financial deepening which posted its correct economic sign. In sum, except for the financial deepening variable it can be safely concluded that financial reforms in Nigeria is yet to positively impact savings mobilization. The regulatory and reform authorities must show effectiveness in reforms implementation.

The politics of regulation in the Turkish electricity market

International Nuclear Information System (INIS)

Cetin, Tamer; Oguz, Fuat

2007-01-01

Turkey began reforming the electricity market in 2001. The regulatory reform aimed to liberalize the market. However, the institutional and political structure was not ready for creating an efficiently working competition. The independent regulator did not have both experience and will to direct the industry to a more competitive environment. Currently, the reform has slowed down and political preferences drive the industry. This paper studies the reasons for the slowdown in the reform efforts by focusing on the relationships between the government, judiciary and the independent regulator. We conclude that strategic behaviors of players in the market, including the judiciary, the government, and the regulator, have made the introduction of competition to the market more costly

The politics of regulation in the Turkish electricity market

International Nuclear Information System (INIS)

Cetin, T.

2007-01-01

Turkey began reforming the electricity market in 2001. The regulatory reform aimed to liberalize the market. However, the institutional and political structure was not ready for creating an efficiently working competition. The independent regulator did not have both experience and will to direct the industry to a more competitive environment. Currently, the reform has slowed down and political preferences drive the industry. This paper studies the reasons for the slowdown in the reform efforts by focusing on the relationships between the government, judiciary and the independent regulator. We conclude that strategic behaviors of players in the market, including the judiciary, the government, and the regulator, have made the introduction of competition to the market more costly. (author)

136 Tax Revenue, Stock Market and Economic Growth of Pakistan

OpenAIRE

Muhammad Irfan Javaid Attari; Roshaiza Taha; Muhammad Imran Farooq

2014-01-01

The purpose of this paper is to examine the effects of capital market and fiscal policy influences in determining the nexus of economic growth in Pakistan from July 2003 to July 2012. The authors utilize ADF unit root test, Johansen Cointegration test, VECM test, Granger causality test and variance decomposition analysis to test the relationship among tax revenue, stock market and economic growth in Pakistan. Granger causality analysis is used to answer questions whether “Does ...

The Market Efficiency of the Stock Market in India

OpenAIRE

Rahman, Sahnawaz

2011-01-01

The greatest and engendering event in the Twenty first century is capital and financial market revolution and reformation especially for India. Efficient Market Hypothesis has attracted numbers of studies in empirical finance particularly in determining the market efficiency of an emerging financial market which produced conflicting and inconclusive outcomes. This paper tests the efficiency of the Indian Capital Market in its semi-strong form and weak form of Efficient Market Hypothesis (EMH)...

Electricity market 2001

Energy Technology Data Exchange (ETDEWEB)

NONE

2001-09-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have had a common electricity market since 1996. The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition, to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the 'Electricity market 2001' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment.

Electricity market 2001

International Nuclear Information System (INIS)

2001-09-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have had a common electricity market since 1996. The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition, to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the 'Electricity market 2001' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment

The impact of market-based 'reform' on cultural values in health care.

Science.gov (United States)

Curtin, L L

1999-12-01

The many issues managed care poses for providers and health networks are crystallized in the moral problems occasioned by its shifting of the financial risks of care from insurer to provider. The issues occasioned by market-based reform include: the problems presented by clashes between public expectations and payer restrictions; the corporatization of health service delivery and the cultural shift from humanitarian endeavor to business enterprise the depersonalization of treatment as time and money constraints stretch resources, and the culture rewards efficient "business-like" behavior the underfunding of care for the poor and uninsured, even as these populations grow the restructuring of care and reengineering of healthcare roles as the emphasis shifts from quality of care to conservation of resources rapid mergers of both health plans and institutional providers with all the inherent turmoil as rules change, services are eliminated, and support services are minimized to save money the unhealthy competition inherent in market-based reform that posits profit taking and market share as the measures of successful performance the undermining of the professional ethic of advocacy the use of incentives that pander to greed and self-interest. The costs of sophisticated technologies and the ongoing care of increasingly fragile patients have pulled many other elements into what previously were considered "privileged" professional interactions. The fact that very few citizens indeed could pay out-of-pocket for the treatment and ongoing care they might need led to social involvement (few people remember that both widespread health insurance and public programs are relatively recent phenomena--only about 30 years old). However, whether in tax dollars or insurance premiums, other people's money is being spent on the patient's care. Clearly, those "other people" never intended to give either the patient or the professional open-ended access to their collective pocketbooks

China’s Entrance to the WTO and Financial Reform

Directory of Open Access Journals (Sweden)

Ki-Soon Park

2000-09-01

Full Text Available The openness and liberalization of China’s financial market is expected to accelerate with her entrance to the WTO. China plans to carry out liberalization measures, including the expansion of the Renminbi business scope. Openness and liberalization will expedite the integration of internal and external sectors, thereby making the domestic financial market more vulnerable to environmental changes. Consequently, China should establish a strong financial system to efficiently cope with the contagion effects of an external financial crisis. However, China’s financial system is still very weak, mainly due to the enormous bad loans to SOEs (state-owned enterprises. Accordingly, the Chinese government should carry out financial reform measures such as strengthening the financial supervision system, dealing with bad bank loans and restructuring the financial institutions. On the whole, China’s entrance to the WTO is expected to have a positive influence on her financial sector by accelerating such reform policies as financial reform and SOE reform. Entrance to the WTO will make society recognize the necessity of reform and openness. The Chinese government can decide to push some difficult reform policies which would not have been considered without WTO entrance.

Causality tests between stock market development and economic growth in West African Monetary Union

Directory of Open Access Journals (Sweden)

Maman Tachiwou ABOUDOU

2009-12-01

Full Text Available This paper examines the causal relationship between stock market development and economic growth for the West African Monetary Union economy over the last decade or so. By applying the techniques of unit–root tests and the long–run Granger noncausality test proposed by Toda and Yamamoto (1995, the causal relationships between the real GDP growth rate and two stock market development proxies are tested. The results are in line with the supply leading hypothesis in the sense that there is strong causal flow from the stock market development to economic growth. A unidirectional causal relationship is also observed between real market capitalization ratio and economic growth.

Environmental consequences of electricity sector reforms

International Nuclear Information System (INIS)

Wohlgemuth, N.

1999-01-01

Worldwide, the electricity industry is in the process of undergoing fundamental transitions. The reform process typically involves one or more of the following changes: commercialisation, privatisation, unbundling/restructuring and introduction of competition. The environmental impacts of these changes pull in different directions. There is concern that restructured electricity markets may not always incorporate adequately the environmental impacts of electricity resource development and consumption decisions. However, the electricity sector reform process also offers an opportunity to promote positive environmental changes: because the sector is already in flux, it may be easier to address environmental issues. The paper gives an overview of power sector reform in six countries where reforms have already been implemented, and concludes that reform measures will have to be accompanied by competitively neutral regulations in order to stimulate investment in environmentally sound technologies, including renewable and energy efficient technologies. (author)

Why Brazil Needed a New Market Model

International Nuclear Information System (INIS)

Pereira, Mario Veiga; Rosenblatt, Jose; Barroso, Luiz Augusto

2005-06-01

This paper discusses how the issue of supply adequacy is treated in the Brazilian power market, analyzing lessons learned from past experiences and describing the solutions that are being implemented to reconcile competition in generation with an adequate supply. The primary goal of the initial reform process is Brazil was to ensure sufficient capacity and investment to serve reliably the country's growing economy. This work discusses the difficulties that were identified in its design in terms of supply reliability and the proposals and reforms introduced by two governments to correct them and to implement a design that reconciles competition in generation with a guarantee of adequate supply. It is shown that, due to the high influence of hydroelectric power, Brazilian spot prices do not provide clear economic signals for system expansion, which in turn make bilateral contracts a key element in the market design. Another difficulty that must be addressed is the need to provide adequate expansion in an environment where there is high uncertainty on demand growth levels

Rethinking Acquisition Reform: Cost-Growth Solutions May Aggravate More Important Problems

National Research Council Canada - National Science Library

Candreva, Phil

2008-01-01

.... Several recent studies have recommended two categories of reforms: capital budgeting reforms seek stability in acquisition accounts, and rational cost model reforms seek to reduce the percentage increase of final cost over budget estimates...

Ageing shocks and short-run regional labour market dynamics in a spatial panel VAR approach

DEFF Research Database (Denmark)

Mitze, Timo; Schmidt, Torben Dall; Rauhut, Daniel

2018-01-01

Using a flexible spatial panel VAR model for a small-scale labour market system, we investigate the dynamic interdependences between changes in the demographic structure and the labour market performance of a regional economy. With a particular focus on ageing shocks, we describe an increase...... in the share of elderly in regional population due to exogenous changes in the institutional context, such as pension reforms. The regional labour market implications of an ageing shock are then tested with regard to the effects on employment growth, unemployment and labour participation rate. Our results...... based on a sample of 71 Scandinavian regions point to negative regional labour market effects of an ageing shock implying a reduction in employment growth and a temporarily declining labour participation rate, while the unemployment rate increases. Importantly, spatial spillovers amplify these negative...

Applications of solar reforming technology

Energy Technology Data Exchange (ETDEWEB)

Spiewak, I. [Weizmann Inst. of Science, Rehovoth (Israel); Tyner, C.E. [Sandia National Labs., Albuquerque, NM (United States); Langnickel, U. [Deutsche Forschungsanstalt fuer Luft- und Raumfahrt e.V. (DLR), Koeln (Germany)

1993-11-01

Research in recent years has demonstrated the efficient use of solar thermal energy for driving endothermic chemical reforming reactions in which hydrocarbons are reacted to form synthesis gas (syngas). Closed-loop reforming/methanation systems can be used for storage and transport of process heat and for short-term storage for peaking power generation. Open-loop systems can be used for direct fuel production; for production of syngas feedstock for further processing to specialty chemicals and plastics and bulk ammonia, hydrogen, and liquid fuels; and directly for industrial processes such as iron ore reduction. In addition, reforming of organic chemical wastes and hazardous materials can be accomplished using the high-efficiency destruction capabilities of steam reforming. To help identify the most promising areas for future development of this technology, we discuss in this paper the economics and market potential of these applications.

Insurance Market Activity and Economic Growth: Evidence from Nigeria

Directory of Open Access Journals (Sweden)

Philip Chimobi Omoke

2012-04-01

Full Text Available The focus of this study is to empirically assess insurance market activities in Nigeria withthe view to determining its impact on economic growth. The period of study was 1970- 2008, thestudy made use of insurance density measures (premium per capita as a measure for insurancemarket activity and real GDP for economic growth. It also employed control variables such asinflation and savings rate as other determinants ofgrowth. The Johansen cointegration and vectorerror correction approach was used to estimate therelationship between the variables. All thevariables used were stationary at first differenceand the result showed a long term relationshipexisting among the variables. The hallmark findingof this study is that the insurance sector did notreveal any positively and significant affect on economic growth in Nigeria within the period of study.The result shows a low insurance market activity inNigeria and that Nigerians have not fully embracethe insurance industry despite its importance to the growth of theeconomy.

Adaptability of competitive electricity reforms a modular analysis

International Nuclear Information System (INIS)

Dubois, Ute

2009-01-01

Among the competitive electricity reforms that have been implemented in Europe and the US for the last 18 years, none has 'survived' over several years without major changes. Their changing nature raises the question of their adaptability. Two characteristics of reforms play a key role on their adaptation properties. Firstly, they are 'modular' objects in the sense of [Baldwin, C., 2008. Where do transactions come from? Modularity, transactions, and the boundaries of firms. Industrial and Corporate Change 17 (1), 155-195]. Secondly, they are produced in an institutional process which leads to 'incomplete' rules and designs [Pistor, K., Xu, C., 2003. Incomplete law. International Law and Politics 35, 931-1013]. We propose a typology of adaptations based on the framework proposed by [Williamson, O.E., 1991. Comparative economic organization: the analysis of discrete structural alternatives. Administrative Science Quarterly 36 (2), 269-296] for contracts: (1) in case of small disturbances, adaptations are realized quasi-automatically, by autonomous decisions of the institutions governing the implementation of reforms; (2) in case of middle-range disturbances, adaption is made by Coasian bargaining; (3) finally, in case of strong disturbances, or when bargaining is not feasible, the adaptation of reforms is in the hands of legislative and executive institutions [North, D.C., 2005. Le processus du developpement economique. Editions d'Organisation]. These institutions can reform the reforms [Joskow, P.L., 2006. Introduction to electricity sector liberalization: lessons learned from cross-country studies. In: Sioshansi, F.P. (Ed.), Electricity Market Reform: An International Perspective. Elsevier, Amsterdam, pp. 1-32; Hogan, W.W., 2002. Electricity market restructuring: reforms of reforms. Journal of Regulatory Economics 21, 103-132]. The role of these types of adaptations in each electricity reform is a consequence of the allocation of rights to the regulator, to

Pushed, pulled, or blocked? The elderly and the labor market in post-Soviet Russia.

Science.gov (United States)

Gerber, Theodore P; Radl, Jonas

2014-05-01

Russia provides an interesting context for studying the labor market experiences of the elderly because of its experience with market transition, its looming growth in the elderly dependency ratio, and its unusual pension policies that do not penalize pensioners for working. We use data from twenty surveys of the Russian population conducted from February 1991 to November 2007 to analyze the labor market participation and earnings of elderly Russians following market transition. Economic desperation, exacerbated by low pension levels, pushed some elderly to seek employment for income on the labor market. Elderly Russians with more education had more opportunities to work, and education differentials increased as market reforms progressed. The correlates of earnings operate similarly for retirement- and pre-retirement age Russians, with several exceptions: unobserved factors favoring employment are negatively associated with earnings for the elderly, occupation mediates most of the effects of education, and patterns of change over time differ somewhat. Elderly Russians are not disproportionately blocked from employment following market reforms. Following the initial transition shock, their labor market activity increased. Overall, both push and pull factors shape the employment and earnings of the elderly, affecting different segments of them. Copyright © 2013 Elsevier Inc. All rights reserved.

Neo-Liberal Educational Reform in Latin America

Directory of Open Access Journals (Sweden)

Susana López Guerra

2006-05-01

Full Text Available Using the argument that educational systems in Latin American are inefficient, political organizations and international financial institutions promoted reforms based on free market principles to modernize education in the region. Chile was used as a laboratory for these reforms, which were then applied to other Latin American countries. This paper analyzes the argument that educational quality is improved through competition—used as a strategy to privatize the educational system—by transferring its financing from public to private sources, to the detriment of the national system of education. Finally, this paper examines the modernization process and the failure of the free market model of the Mexican system of education.

Trends and prospects of tax reforms in China

Directory of Open Access Journals (Sweden)

Yoo Ho Lim

2015-04-01

Full Text Available This study aims to identify the reform trends in Chinese tax systems with emphasis on the structural tax reduction policy that has been enforced in China’s socialist market economy system for the past 10 years. This study also intends to draw the implications of such tax reforms by identifying the relationship between China’s socialist and capitalist market economy systems along with other related tax systems and describing the tax policy trends for the last 10 years. A comparison and analysis of the differences in viewpoints on taxation between these market economy systems is also conducted. The core and specific contents of this study on structural tax reduction policy that has been enforced in China over the past decade are arranged.

Eight attention points when evaluating large-scale public sector reforms

DEFF Research Database (Denmark)

Hansen, Morten Balle; Breidahl, Karen Nielsen; Furubo, Jan-Eric

2017-01-01

This chapter analyses the challenges related to evaluations of large-scale public sector reforms. It is based on a meta-evaluation of the evaluation of the reform of the Norwegian Labour Market and Welfare Administration (the NAV-reform) in Norway, which entailed both a significant reorganization...... sector reforms. Based on the analysis, eight crucial points of attention when evaluating large-scale public sector reforms are elaborated. We discuss their reasons and argue that other countries will face the same challenges and thus can learn from the experiences of Norway....

Challenges and policy implications of gas reform in Italy and Ukraine: Evidence from a benchmarking analysis

International Nuclear Information System (INIS)

Goncharuk, Anatoliy G.; Storto, Corrado lo

2017-01-01

This paper presents a cross-country benchmarking study of natural gas distribution to final consumers and compares two samples of companies in Italy and Ukraine. A 2-stage DEA procedure calculating efficiency of gas providers and identifying critical context factors and policy issues that affect it is implemented. Both countries are low performing in terms of operators’ technical and scale efficiency and there is room to design more efficient market configurations. Some issues need attention to develop an effective gas market policy: a) search for efficiency requires accurate investigation of its main drivers that depend on context factors; b) while greater efficiency is necessary to reduce cost and increase service quality, at different stages of progress of the reform process other goals may be more important; c) gas industry reform process should be planned adopting a systemic perspective as its development does not remain confined to the sector, but implies changes in the whole country economy, particularly when the gas market is of primary relevance to the economy; d) a more comprehensive package of reforms may be necessary to make gas market reform successful; e) even though the gas market reform is an economic process, it has unavoidably social and political implications. - Highlights: • Benchmarking of natural gas distribution industry in Italy and Ukraine is performed. • Average industry inefficiency is about 27% and decreasing returns to scale are dominant. • Gas industry reform process should be planned adopting a systemic perspective. • Gas reform needs a more comprehensive package of reforms and/or supporting legislation to be successful. • Gas industry reform has social and political implications.

Market Dynamics and Productivity in Developing Countries ...

International Development Research Centre (IDRC) Digital Library (Canada)

25 nov. 2009 ... Market Dynamics and Productivity in Developing Countries : Economic Reforms in the Middle East and North Africa. Book cover Market Dynamics and Productivity in Developing Countries: Economic Reforms in the Middle East. Directeur(s):. Khalid Sekkat. Maison(s) d'édition: Springer, CDRI. 25 novembre ...

Economic Segmentation and Health Inequalities in Urban Post-Reform China.

Science.gov (United States)

Kwon, Soyoung

2016-01-01

During economic reform, Chinese economic labor markets became segmented by state sector associated with a planned redistributive economy and private sector associated with the market economy. By considering an economic sector as a concrete institutional setting in post-reform China, this paper compares the extent to which socioeconomic status, measured by education and income, is associated with self-rated health between state sector and private sector. The sample is limited to urban Chinese employees between the ages of 18 and 55 who were active in the labor force. By analyzing pooled data from the 1991-2006 Chinese Health and Nutrition Survey , I find that there is a stronger association between income and self-rated health in the private sector than in the state sector. This study suggests that sectoral differences between market and redistributive economies are an important key to understanding health inequalities in post-reform urban China.

Trade liberalization and tax reform strategies: The case of the Korean oil industry

International Nuclear Information System (INIS)

Shim, Kieun; Jung, Yonghun

2012-01-01

The decline in government revenues due to tariff reductions has become a major concern for most developing countries, including Korea. This paper focuses on the Korean oil industry to examine which post-trade liberalization tax reform strategy is optimal, depending on the government's priority between social welfare and government revenue. We find that the important factors for choosing an optimal tax reform policy are price elasticity of demand and market competition. Based on a price-inelastic demand and the low competitive market for Korea's oil industry, if the goal of a tax reform policy is to increase social welfare, the recommended strategy is to raise the consumption tax by a scale of less than the sum of tariff cuts times the crude oil price and oil import tax cuts. This strategy would also reduce inflation, but it could be detrimental to government revenue. However, if the policy's goal is the preservation of government revenue, the recommended strategy is to raise the consumption tax by a scale equal to the sum of tariff cuts times the crude oil price at the pre-tax reform and oil import tax cuts. This strategy does not change either government revenue or social welfare. - Highlights: ▶ Which post-trade liberalization tax reform is optimal for Korea's oil industry? ▶ Both final and intermediate markets are modeled under imperfect competition. ▶ Both price elasticity and market competition are important for an optimal tax reform. ▶ The optimal tax reform depends on the priority between welfare and government revenue.

Restructuring of labor markets in the Philippines and Zambia: the gender dimension.

Science.gov (United States)

Floro, M S; Schaefer, K

1998-01-01

This paper critically examines labor market changes accompanying the process of structural adjustment in the Philippines and Zambia and, in particular, the resulting impact on women's economic participation. The changes in the labor market occurring during the process of economic restructuring in Zambia and the Philippines are similar in some respects but very different in others. Zambia's economic performance has not been sufficient to generate wide-based employment and has been characterized by rising unemployment. The Philippines has also unfortunately been characterized by a growth in joblessness, specifically with regard to skilled and semiskilled employment. Global integration of labor markets in the Philippines give some employment opportunity to workers who are willing to seek jobs overseas but not to those in Zambia. Both in the Philippines and Zambia, the informal sector has shifted its agricultural reforms to female labor toward agricultural wage work (which is seasonal and low paid). In the Philippines, specifically in urban areas, certain export-oriented industries have created some jobs, predominantly for young women, but only a small proportion of total females are employed. Much of the female job growth has occurred in sales and service sectors, including sex work, domestic service, and petty trade. International labor migration in the Philippines has become more feminized, because a majority of overseas contract workers are women, who are employed in the service sector as entertainers and domestic helpers. Access to paid work in some cases may empower women, yet in other cases their power may be diminished. Both the specific character of labor market development and the nature of the accompanying economic reform alter the ability of the women and men to take advantage of the opportunity. Reform shifts patterns of production organization and location of employment and can either reinforce the prevailing distribution of power or provide tension

Population Growth, Available Resources, and Quality of Life： China＇s Post-Reform Economic Development

Institute of Scientific and Technical Information of China (English)

Tim Futing Liao; Hua Qin

2012-01-01

Two opposing intellectual traditions and their contem- porary developments regarding the relations among population, available resources, and quality of life as reflected in economic growth are reviewed. What is at issue is whether population growth is detrimental to or beneficial for economic development. Neither of the extreme views gives a complete picture of the interplay among population, resources, and quality of life. Following previ- ous literature on the topic, this paper establishes a more balanced approach that considers the function linking population and quality of life not constant but variable and regards the limitedness of resources as not absolute but relative to regions and societies. The proposed approach is more flexible in better explaining the relation between population and economic growth. China is examined as a case in point to shed light on the interaction of population growth, economic development, and available resources, and its recent post-economic reform experiences showcase the appropriateness of the synthetic approach.

Biomass markets. Growth strategy and challenges for French actors

International Nuclear Information System (INIS)

2015-01-01

This study comprises three reports. The first one is an executive summary which focuses on the main aspects of the evolution of the activity in the biomass sector, and highlights factors of change and their strategic consequences. The second one proposes an overview of the situation of biomass French markets, analyses growth strategies adopted by actors of the biomass sector (development of new production capacities, international growth, development of strategies based on several energies, diversification of prospects, innovation and improvement of installation efficiency), and discusses the main strategic challenges on the medium term. The third report proposes a presentation of the context of French biomass markets (political, regulatory and energetic framework, energetic assessment and assessment of the waste-based sector, economic context, housing stock, and other contextual factors), a presentation of the biomass French market (data for 2005-2013, dynamics of three specific segments: solid biomass, renewable urban wastes, and biogas), and a description of the competitive landscape (economic structure, actors) and of the 15 main actors

75 FR 10059 - Money Market Fund Reform

Science.gov (United States)

2010-03-04

... contain adverse effects on the capital markets and other money market funds. In addition, throughout the... acquisition of second tier securities by money market funds might have a negative effect on those issuers of...; Treasury Strategies Comment Letter. Commenters asserted that eliminating money market funds' ability to...

Trade Liberalisation and Economic Growth in Macedonia

Directory of Open Access Journals (Sweden)

Mano-Bakalinov Viktorija

2016-12-01

Full Text Available The objective of this paper is to explore the effects of trade on Macedonian economic growth. The autoregressive distributed lag (ARDL model is applied on yearly data over the period of 1993-2014. Empirical investigation reveals that an increase of population and openness demonstrate a positive and significant effect on Macedonian economic growth. Given other diverging findings, this suggests that the relationship between trade reforms and growth through the productivity function may vary across transition economies. Nevertheless, the findings of this paper indicate that policies focusing on market liberalisation and opening the economy to trade have a positive effect on Macedonian economic growth, both in the short run and the long run.

Increasing excise taxes in the presence of an illegal cigarette market: the 2011 Brazil tobacco tax reform

Directory of Open Access Journals (Sweden)

Roberto Magno Iglesias

Full Text Available ABSTRACT The Brazilian cigarette excise tax reform of 2011 increased tax rates significantly in the presence of a high proportion of illegal and cheap cigarettes contributing to total consumption. Prior to 2011, tobacco tax policy in Brazil had reduced excise tax share on consumer prices, for fear of smuggling. This report examines two hypotheses explaining why tax authorities changed direction. The first is related to lack of concern regarding smuggling in tobacco industry pricing behavior before 2011 (rather than reducing prices following tax reduction, legal companies increased net of tax prices above inflation and key costs. The second hypothesis regards inconsistent industry assessments of the size of the illicit market, which ultimately undermined the credibility of the industry with tax authorities. The author concludes that the 2011 reform was designed to revert the weakness of previous policies, and did indeed succeed. The post-2011 experience in Brazil indicates that increased cigarette excise taxes can increase government revenues and reduce smoking prevalence and consumption despite widespread smuggling of tobacco products.

Economic Segmentation and Health Inequalities in Urban Post-Reform China

Directory of Open Access Journals (Sweden)

Soyoung Kwon

2016-08-01

Full Text Available During economic reform, Chinese economic labor markets became segmented by state sector associated with a planned redistributive economy and private sector associated with the market economy. By considering an economic sector as a concrete institutional setting in post-reform China, this paper compares the extent to which socioeconomic status, measured by education and income, is associated with self-rated health between state sector and private sector. The sample is limited to urban Chinese employees between the ages of 18 and 55 who were active in the labor force. By analyzing pooled data from the 1991–2006 Chinese Health and Nutrition Survey, I find that there is a stronger association between income and self-rated health in the private sector than in the state sector. This study suggests that sectoral differences between market and redistributive economies are an important key to understanding health inequalities in post-reform urban China.

Stock Market Development and Economic Growth: Evidences from Asia-4 Countries

OpenAIRE

Azam, Muhammad; Haseeb, Muhammad; Samsi, Aznita binti; Raji, Jimoh Olajide

2016-01-01

The main purpose of this study is to examine the role of stock markets in economic growth for four Asian countries namely Bangladesh, India, China and Singapore. Annual time series cross country data over the period 1991 to 2012 and Autoregressive Distributed Lag (ARDL) bound testing approaches an analytical technique are used. Our results suggest that there is long-term cointegration among economic growth, Foreign Direct Investment (FDI), stock market development and inflation. The long-ter...

Recent State Education Reform in the United States: Looking Backward and Forward.

Science.gov (United States)

Kirst, Michael W.

1988-01-01

Reviews the past progress and outcomes of the educational reform movement at the state level and outlines strategies for the second wave of reform. Contends that the future of education reform depends primarily on the growth of the American economy and how this growth is distributed among the states. (TE)

China’s Political Reforms in the Early 21 Century

Directory of Open Access Journals (Sweden)

Nguyen Xuan Сuong

2015-01-01

Full Text Available Analyzing process of political reforms in the People's Republic of China, the author notes that within the first 20 years of reforms and openness of China economic growth wasn't followed by development of society, political reforms didn't keep up for economic, imperfection of political system constrained economic reforms and development. Owing to this fact the XVI congress of a CPC lifted policy to the level of "political culture" by analogy with "material culture" and "spiritual culture". In the first 20 anniversary of the XXI century with the purpose to finish "comprehensive creation of society "of small prosperity" China has to create "perfect system of socialist market economy", construct "harmonious socialist society". For achievement of these purposes political reforms in China have to provide "improvement of socialist democracy" and "the socialist constitutional state". In the first years of the XXI century they brought a number of significant achievements: political stability, peaceful alternation of generations of the power, essential increase of level of political democracy. The first stage of formation of the constitutional socialist state is passed, ability and level of the management from ruling party increased; party construction amplified. But also at the beginning of the second decade of the XXI century implementation of the legislation, democracy faces many calls, especially intensification of nationalism at the beginning of the century. The Chinese dream will mobilize grandiose powers of unity that China deepened reforms and openness, solved all the political problems, helped a CPC to increase the leading and imperious power. Implementation process of "The Chinese dream" also means aspiration to tops of economy, policy, military science, technologies in the world, to a taking them, reflecting process of formation of the new great power which will succeed the USA. Political reforms with the purpose to achieve "The Chinese dream

Studies in market-based electric power trade and regulation

International Nuclear Information System (INIS)

Hope, Einar

2000-01-01

This is a compilation of articles written by the author during the last fifteen years. Most of the articles are related to the reform of the Norwegian electric power market. This reform led to the Energy Act of 1990 and to the subsequent development of the power markets. Some of the sections are in Norwegian, some in English. The sections discuss (1) Markets for electricity trade in Norway, (2) Economic incentives and public firm behaviour, (3) Market alternatives to the present forms of occasional power trade, (4) Socio-economic considerations about electricity pricing, (5) Scenarios for market based power trade in Norway, (6) Markets for electricity: economic reform of the Norwegian electricity industry, (7) The Norwegian power market, (8) A common Nordic energy market?, (9) Organization of supply markets for natural gas in Europe, (10) The extent of the central grid, (11) Optimum regulation of grid monopolies in the power trade, (12) Power markets and competition policy, (13) Deregulation of the Norwegian power sector, (14) designing a market based system for the Icelandic electricity industry and (15) regulation regimes for the power sector

The individual life-cycle, annuity market imperfections and economic growth

NARCIS (Netherlands)

Heijdra, Ben J.; Mierau, Jochen O.

We study the effects of an annuity market imperfection on individual agents' life-cycle decisions and on the macroeconomic growth rate in an overlapping generations model with single-sector endogenous growth. Our model features both age-dependent mortality and labour productivity. We model imperfect

Neoliberalism, Social Darwinism, and Consumerism Masquerading as School Reform

Science.gov (United States)

Tienken, Christopher H.

2013-01-01

Education reform policies harvested from neoliberalism, social Darwinism, consumerism, and free-market ideologies have begun to replace the pragmatic progressivism of the pre-World War II era. In this article, I use three federal and state education reform policies and programs--No Child Left Behind Act, Common Core State Standards Initiative, and…

The Australian stock market development: Prospects and challenges

Directory of Open Access Journals (Sweden)

Sheilla Nyasha

2013-06-01

Full Text Available This paper highlights the origin and development of the Australian stock market. The country has three major stock exchanges, namely: the Australian Securities Exchange Group, the National Stock Exchange of Australia, and the Asia-Pacific Stock Exchange. These stock exchanges were born out of a string of stock exchanges that merged over time. Stock-market reforms have been implemented since the period of deregulation, during the 1980s; and the Exchanges responded largely positively to these reforms. As a result of the reforms, the Australian stock market has developed in terms of the number of listed companies, the market capitalisation, the total value of stocks traded, and the turnover ratio. Although the stock market in Australia has developed remarkably over the years, and was spared by the global financial crisis of the late 2000s, it still faces some challenges. These include the increased economic uncertainty overseas, the downtrend in global financial markets, and the restrained consumer confidence in Australia.

A century of growth? A history of tobacco production and marketing in Malawi, 1890-2005

DEFF Research Database (Denmark)

Prowse, Martin

2011-01-01

During the past century tobacco production and marketing in Nyasaland/Malawi has undergone periods of dynamism similar to changes since the early 1990s. This article highlights four recurrent patterns. First, estate owners have either fostered or constrained peasant/smallholder production dependent...... on complementarities or competition with their estates. Second, rapid expansion of peasant/smallholder production has led to three recurrent outcomes: a large multiplier effect in tobacco-rich districts; re-regulation of the marketing of peasant/smallholder tobacco by the (colonial) state; and, lastly, concerns over...... the supply of food crops. The article concludes by arguing that whilst the reform of burley tobacco production and marketing in the 1990s engaged with the first two issues, it may have benefitted from paying greater attention to the latter two issues as well....

Public service or commodity goods? Electricity reforms, access, and the politics of development in Tanzania

Science.gov (United States)

Ghanadan, Rebecca Hansing

Since the 1990s, power sector reforms have become paramount in energy policy, catalyzing a debate in Africa about market-based service provision and the effects of reforms on access. My research seeks to move beyond the conceptual divide by grounding attention not in abstract 'market forces' but rather in how development institutions shape energy services and actually practice policy on the ground. Using the case of Tanzania, a country known for having instituted some of the most extensive reforms and a 'success story' in Africa, I find that reforms are creating large burdens and barriers for access and use of services, including: increasing costs, enforcement pressures, and measures to impose 'market' discipline. However, I also find that many of the most significant outcomes are not found in direct 'market' changes, but rather how reforms are selective, partial, and shaped by the wider needs and claims of the institutions driving reforms, so that questions of how reforms are implemented, how they are measured, and who tells the story become as important as the policies themselves. Using a multiple-arenas framework, including (i) a household and community level study of urban energy conditions, (ii) a study of service and management conditions at the national electric utility, (iii) an examination of the international policy process, and (iv) a study of the history of electricity services across colonial, post-independence, and reform periods, I show that African energy reforms are a technical and political project connecting energy to international investments, donor aid programs, and elite interests within national governments. Energy reforms also involve fundamental service changes that are reorganizing how the costs and benefits of energy systems are distributed, allocated, and managed. The effects of reform extend beyond formal services to have wide-reaching repercussions within natural resources, and uneven social dynamics on the ground. These features point

Energy reforms in central and eastern Europe - The first year

International Nuclear Information System (INIS)

1991-01-01

The first stages of the energy reforms in central and eastern Europe - taking stock of the heritage of the past and conceptualizing the nature of reforms - were accomplished in 1990. While two countries - the USSR and Albania -introduced some market economy elements into central energy planning and basically maintained the latter, all other countries of central and eastern Europe opted for a replacement of central energy planning by market-oriented energy policies and practices. In those latter countries, a typical policy of market adaptation emerged consisting of a change of policies, institutions, economic instruments and relations. Differences in the conditions prevailing in the various countries resulted in the emergence of specific national ''models'' of market adaptation. The reforms, if successful, would imply: greater energy efficiency, reduced pollution, enhanced nuclear safety, a reduced impact on the climate, greater business opportunities, the closure of uneconomic capacities, a decline of coal production, a rise in unemployment; a rise of the energy trade dependence coupled with a rise of gas and oil imports; but practically no change of the net energy exports of the USSR. By the end of 1990 developed market economies agreed to co-ordinate assistance (within the ''Group of 24'') and determined the type and modalities of support. This support would enable and encourage the economies in transition to finalize reform, stimulate their practical implementation and address side effects (disinvestments, unemployment) and systematic risks (e.g. trade dependence) and opportunities (e.g. trade diversification). The business community and lending institutions would have to assess and support investments opportunities more actively. Intergovernmental organizations will play an important role in improving the conditions for business involvement. In 1990, the frameworks for energy reforms in central and eastern Europe, short term assistance, long term business

Power sector reform in India: current issues and prospects

International Nuclear Information System (INIS)

Singh, Anoop

2006-01-01

Power sector reforms in India were initiated at a juncture when the sector was plagued with commercial losses and burgeoning subsidy burden. Investment in the sector was not able to keep pace with growing demand for electricity. This paper takes stock of pre-reform situation in Indian power sector and identifies key concerns that led to initiation of the process of reform. The paper discusses major policy and regulatory changes undertaken since the early 1990s. The paper also illustrates changes in the market structure as we move along the reform process. We also discuss some of the major provisions of the recently enacted Electricity Act 2003 that aims to replace the prevailing acts which govern the functioning of the power sector in the country. In this context, we discuss two issues arising out of it, namely open access and multi-year tariff that we think would have a significant bearing on the performance of the sector in the near future. The paper also evaluates the reform process in the light of some of the regulatory changes undertaken. Finally, the paper briefly discusses the issues involved in introduction of competition in the power sector primarily through development of a market for bulk power

Labor reallocation and firm growth: Benchmarking transition countries against mature market economies

OpenAIRE

Mitra, Pradeep; Muravyev, Alexander; Schaffer, Mark E.

2014-01-01

This paper uses firm-level survey data to study labor reallocation and firm growth in the transition countries over 1996 - 2005, including benchmarking against developed market economies. The data shows rapid growth of the new private sector and of the micro- and small-firm sectors, with the size distribution of firms moving towards the pattern observed in comparable surveys of developed market economies. Throughout, the regional patterns suggest greater convergence in the transition countrie...

PENSION FUNDS EVOLUTION, REFORMS AND TRENDS IN SOUTHAFRICA

Directory of Open Access Journals (Sweden)

Nthabiseng Moleko

2017-07-01

Full Text Available This paper presents a graphical and descriptive analysis of the historical trends ofthe South African pension fund sector in order to provide insights andunderstanding ofnon-banking finance. Using a combination of secondary data anda desk review of existing literature, we provide in-depth analysis of the differenttypes and number of pension funds, industry trends, policy reforms and legislativeframeworks enacted by theSouth African government for the development of thesector. The study identified the evolution of the pension fund industry to be in fourphases coinciding with different waves of industry policy reforms, namely: theinfancy phase (1911-1958; institutionalisation phase (1959-1984; separation andcontinued separation phase (1985-1994; and corporatisation and amalgamation(1995-2015 The industry growth analysis indicated that a compounded annualgrowth rate of 14 percent is the highest annual growth overthe past decade and thisgrowth exceeds the global market average of 6.5 percent over the same period. Theindustry trend analysis is indicative of an upward trend in terms of funds’membership with the trendline showing a steep rise to over 15 million membersfrom under 10 million memberships with the space of a decade. However, thenumber of pension funds operating in the industry has declined due to a steadymove towards umbrella funds. Although the South African pension fund industry isnot only movingin the right direction but also considered a beacon of successaround the world, there remains huge potential for growth of the sector. Therefore,maintaining sound regulatory policies and government interventions will continueto ensure that pension fundsare well managed and bad practices discouraged in thesector through the oversight functions of government regulatory institutions such asthe Pension Fund Registrar and Financial Services Board.

Cost-benefit analysis of reforming Israel's electricity industry

International Nuclear Information System (INIS)

Tishler, A.; Newman, J.; Spekterman, I.; Woo, C.K.

2006-01-01

In June 2003, the Israeli government decided to reform the Israeli electricity industry, which is currently dominated by Israel electric corporation (IEC), a government-owned vertically integrated electric utility. The first step of the planned reform will be taken in 2006, when IEC will be functionally separated into generation, transmission, local distribution, and customer services. Immediately thereafter will be the second step, which by 2012 will result in the deregulation and privatization of the wholesale generation and customer services. Transmission and distribution (T and D) services will remain regulated but will be available to all T and D users under mandatory open access. This paper summarizes a cost-benefit analysis of the government's reform plan. Relative to a regulated regime, the government's plan, even if carried out flawlessly, may only yield a small net benefit. However, it entails a large increase in electricity producer profit and government tax receipt, at the expense of electricity consumers. A less-than-perfect transition to competition can easily wipe out the potential gain of the government plan. Market reform experience to date shows that electricity market reform can easily fail, and the factors for success do not exist in Israel. Since the outcome of a failing reform can be disastrous, it will be imprudent to implement the government's plan in 2006, when the current electricity law expires. Hence, we recommend performance-based regulation for the period of 2006-2010. Subject to an updated cost-benefit analysis, possible decentralization, privatization and competition may follow

Wind energy development in China - reality and market forces

International Nuclear Information System (INIS)

Yinghua Han

1999-01-01

Economic reforms in China started in 1978, which led to profound changes as a result of a consistent structural adjustment and stabilisation policy. The national economy is now characterised with high growth and low inflation. In 1997, GDP was US$ 767 billion and foreign exchange reached US$ 140 billion. This paper examines the outstanding contribution of rural industries to rapid growth of national economy and the consequences of increase of energy consumption and its environmental impact. It also emphasises the necessity and benefit of using renewable energy and wind energy in particular. The paper also addresses the issue of joint venture in farm development in line with Chinese market economy. (Author)

Inclusive Growth and Market Economies are the Future in MENA ...

International Development Research Centre (IDRC) Digital Library (Canada)

Inclusive Growth and Market Economies are the Future in MENA ... and economic growth, jobs for youth and the development of the private sector. ... fundamental re-assessment of the role of the state in economic development ," an IDRC official ... Along with continuing to provide support to local partners, IDRC will carry out ...

"Economic growth and the reform of the judicial system of Bulgaria in the period 2000-2015 (vision for a new measurement model)"

OpenAIRE

Nozharov, Shteryo

2015-01-01

The publication proposes a concept for new model for evaluation of the “reform of the judicial system”, different from those applied by the World Bank and the International Monetary Fund where the economic growth rate of each country is measured. Their models, based on performance indicators, examine the “reform of the judicial system” as constant and floating in time, evaluated in certain periods of time. This fact obstructs the identification of the relative legislative miscarriages of ever...

China’s Political Reforms in the Early 21st Century

Directory of Open Access Journals (Sweden)

Nguyen Xuan Сuong

2015-01-01

Full Text Available Analyzing process of political reforms in the People's Republic of China, the author notes that within the first 20 years of reforms and openness of China economic growth wasn't followed by development of society, political reforms didn't keep up for economic, imperfection of political system constrained economic reforms and development. Owing to this fact the XVI congress of a CPC lifted policy to the level of "political culture" by analogy with "material culture" and "spiritual culture". In the first 20 anniversary of the XXI century with the purpose to finish "comprehensive creation of society "of small prosperity" China has to create "perfect system of socialist market economy", construct "harmonious socialist society". For achievement of these purposes political reforms in China have to provide "improvement of socialist democracy" and "the socialist constitutional state". In the first years of the XXI century they brought a number of significant achievements: political stability, peaceful alternation of generations of the power, essential increase of level of political democracy. The first stage of formation of the constitutional socialist state is passed, ability and level of the management from ruling party increased; party construction amplified. But also at the beginning of the second decade of the XXI century implementation of the legislation, democracy faces many calls, especially intensification of nationalism at the beginning of the century. The Chinese dream will mobilize grandiose powers of unity that China deepened reforms and openness, solved all the political problems, helped a CPC to increase the leading and imperious power. Implementation process of "The Chinese dream" also means aspiration to tops of economy, policy, military science, technologies in the world, to a taking them, reflecting process of formation of the new great power which will succeed the USA. Political reforms with the purpose to achieve "The Chinese dream

Leveraging Fuel Subsidy Reform for Transition in Yemen

Directory of Open Access Journals (Sweden)

Olivier Ecker

2012-10-01

Full Text Available Yemen is currently undergoing a major political transition, yet many economic challenges—including fuel subsidy reform—remain highly relevant. To inform the transition process with respect to a potential subsidy reform, we use a dynamic computable general equilibrium and microsimulation model for Yemen; we show that overall growth effects of subsidy reduction are positive in general, but poverty can increase or decrease depending on reform design. A promising strategy for a successful reform combines fuel subsidy reduction with direct income transfers to the poorest one-third of households during reform, and productivity-enhancing investment in infrastructure, plus fiscal consolidation. Public investments should be used for integrating economic spaces and restructuring of agricultural, industrial and service value chains in order to create a framework that encourages private-sector-led and job-creating growth.

The European gen-set market: growth and consolidation mean joy and pain

International Nuclear Information System (INIS)

French, Ian

2000-01-01

The changes in the European gen-set market are discussed. In recent years the market has undergone a period of increasing consolidation: prices fell and some companies folded. However, the market is not dead and continued growth is expected over the next five years although the compound rate is forecast to be only 1.5%. The article is presented under the sub-headings of (i) current market situation; (ii) product lifecycle; (iii) shipments by technology; (iv) market deregulation; (v) technology overview (spark ignition, compression ignition and gas turbines) (vi) European market: national overview and (vii) key market challenges (competition, emissions and over capacity)

Tales of two islands – Lessons for EU energy policy from electricity market reforms in Britain and Ireland

International Nuclear Information System (INIS)

Newbery, David

2017-01-01

Britain considers the energy-only EU Target Electricity Model (TEM) wanting in delivering the trilemma of reliability, sustainability and affordability and argues that a capacity auction with long-term contracts for new entrants is the least-cost solution compared to relying on expectations of future prices to deliver adequate generation and demand side response. The Energy Union argues against feed-in tariffs (FiTs) for renewables, pressing for premium FiTs (pFiTs), just as GB has abandoned PFiTs in favour of FiTs. This paper draws on the GB experience of Electricity Market Reform before and after the 2015 change of government, to highlight promising resolutions of the energy trilemma, and the problems that have arisen between the diagnosis of the problem and the delivery of solutions. It sets out the theory and practice of delivering capacity, energy and quality of supply, gives a brief history of GB electricity from the CEGB to its current unbundled, liberalized and privatized structure. That sheds light on the trilemma problem and discusses possible solutions. The island of Ireland Single Electricity Market reforms illustrate the problem and possible answer of how best to deliver quality of service with high intermittency. - Highlights: • The UK has introduced capacity payments and feed-in tariffs for renewables. • This contrasts with the energy-only target model and the Energy Union vision. • Transmission and distribution charges are critical in capacity auctions. • New flexibility services are needed for massive renewables penetration. • Britain and Ireland provide relevant evidence on addressing the energy trilemma.

From Emancipation through Employment to Emancipation through Entrepreneurship: An Analysis of the Special Labor Market Initiatives (BRYT and Tax Deduction for Domestic Services (RUT in Sweden

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Elin Kvist

2015-10-01

Full Text Available Debates on gender equality policy in Sweden assume that women’s labor market participation is central to gender equality and should be promoted via special initiatives and programs. This paper examines how gender equality discourses have changed over time, analyzing Swedish state labor market policy in the 1980s and 1990s, special labor market initiatives to eliminate gender segregation and encourage nontraditional gendered work choices, and contemporary state subsidies for paid domestic work (i.e., tax deduction for domestic services. Critically interpreting these reforms reveals consistencies and continuities in how labor market participation is viewed as the key promoter of gender equality, revealing transformations in how gender equality is understood and constructed. A transition is discernible from state-funded programs and reforms to governmental agencies/authorities and state subsidies to promote enterprise and the growth of specific labor market sectors.

The reform of accounting standards and audit pricing

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Kai Zhu

2012-06-01

Full Text Available This paper focuses on the reform of accounting standards in China in 2007 and investigates its impact on equilibrium pricing in the audit market. We find that the concentration of the audit market and the probability of issuing modified audit opinions do not significantly change, but that audit fees increase significantly after the adoption of the new accounting standards in China. Deeper analysis suggests that (1 the implementation of the new IFRS-based Chinese Accounting Standards (CASs has increased the market risk faced by listed firms and thus auditors’ expected audit risk, causing an increase in audit fees, and (2 the degree of the increase in audit fees is positively related to the adjusted difference between net income according to the old CAS before 2007 and the new CAS after 2007. We thus conclude that the reform has had a significant impact on audit pricing in China.

Educational reform and the public: Two case studies of Poland and Saskatchewan (Canada)

Science.gov (United States)

Kaproń, Danuta; Stephan, Werner

1991-09-01

The involvement of the public in educational reform processes in modern democratic societies primarily serves the purpose of politically legitimizing the reform agenda. This study examines the rationales implicitly or explicitly submitted to the public to explain why educational reforms in the two countries should be endorsed. Although differences in the political culture caution against a hasty comparison of the two case studies, a number of politico-economic similarities allow for a valid juxtaposition. In Poland the context of socio-political and economic renewal prompted the reformers to emphasize the human-capital model which heightened public awareness and participation in the debate surrounding the reform. Public involvement in Saskatchewan was negatively affected for mainly two reasons. First, the government evidently manipulated public input by various means and thereby appears to have predetermined the outcome. Second, the rationale for the reform, based on a free-market model, tightened the linkage between the needs of the labour market and the mandate of the schools. As a result, public interest and participation was greatly diminished.

Evolving Governance and Contested Water Reforms in Australia’s Murray Darling Basin

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Jason Alexandra

2018-01-01

Full Text Available This paper explores the ways water governance adapts to changing social values and political imperatives by examining the case of water policy reforms in Australia’s Murray Darling Basin. Over more than two decades, Australia’s water reforms have explicitly aimed to promote ecological sustainability and economic efficiency, attempting to balance pro-market, micro-economic reforms with broader social and sustainability goals. Despite the formality of Australia’s intergovernmental agreements, water reforms have been expensive and heavily contested, experiencing many implementation challenges. However, water market reforms have generally been regarded as successful, enabling the reallocation of water for environmental and extractive uses, contributing to flexibility and adaptive capacity. Recognising that discursive contestation is central to policy development, the paper documents the way the reform processes have attempted to broker compromises between three competing policy paradigms—national development, economic rationalism and environmentalism. These inherent tensions resulted in prolonged contests for influence over policy directions long after formal statements of policy intent by Governments. Given that climate change is driving the need for water governance reforms, the paper looks to what lessons can be learnt about the redesigns of meta-governance arrangements, including through structured commitments to independent audits and evaluations that can provide the feedback needed for adaptive governance and policy learning.

After Access: Canadian Education and Copyright Reform

Science.gov (United States)

Geist, Michael

2006-01-01

With the dramatic growth of the Internet in the 1990s, the Canadian government developed a well-regarded strategy for addressing the emerging issues posed by the "information highway." The strategy featured legal reforms to address privacy and e-commerce, administrative reforms for the government online initiative, and connectivity…

US Health Care Reform and Transplantation. Part I: overview and impact on access and reimbursement in the private sector.

Science.gov (United States)

Axelrod, D A; Millman, D; Abecassis, M M

2010-10-01

The Health Care Reform (HCR) legislation passed by Congress in 2010 will have significant impact on transplant centers, patients and health care professionals. The Act seeks to expand coverage, limit the growth in health care costs and reform the delivery and insurance systems. In Part I of this two part series, we provide an overview and perspective of changes in private health insurance resulting from HCR. Under the plan, all Americans will be required to purchase coverage through their employer or via an improved individual/small group market. This legislation limits abusive practices such as limitations on preexisting conditions, lifetime and annual coverage limitations and dropping of beneficiaries if they become sick. The legislation will also limit high-cost plans and regulate premium increases. Private sector reforms are likely to benefit our patients by increasing the number of patients with access to transplant services, since the use of 'preexisting' conditions will be eliminated. However without a concomitant increase in the organ supply, longer waiting times and greater use of marginal organs are likely to increase the cost of transplant. Furthermore, transplant providers will receive reduced reimbursement as a result of market consolidation and the growing power of large transplant networks.

The Mediating Role of Textbooks in High-Stakes Assessment Reform

Science.gov (United States)

Leung, Ching Yin; Andrews, Stephen

2012-01-01

Whenever high-stakes assessment/curriculum reforms take place, new textbooks appear on the market. These textbooks inevitably play a significant mediating role in the implementation of any reform and on teaching and learning. This paper reports on a small-scale study which attempts to investigate the role of textbooks in the mediation of a…

Win-Win transportation solutions price reforms with multiple benefits

International Nuclear Information System (INIS)

Litman, T.

2001-01-01

Reform strategies in the transportation market, such as the Win-Win Transportation Solutions, can provide several economic, social and environmental benefits. The strategies are cost effective, technically feasible reforms based on market principles which help create a more equitable and efficient transportation system that supports sustainable economic development. The benefits they provide include reduced traffic congestion, road and parking facility savings, consumer savings, equity, safety and environmental protection. They also increase economic productivity. If fully implemented, they could reduce motor vehicle impacts by 15 to 30 per cent and could help achieve the Kyoto emission reduction targets. Examples of Win-Win strategies at the federal level include: (1) removal of subsidies to oil production and internalized costs, and (2) tax exempt employer provided transfer benefits. Examples of Win-Win strategies at the state/provincial level include: (1) distance-based vehicle insurance and registration fees, (2) least-coast transportation planning and funding, (3) revenue-neutral tax shifting, (4) road pricing, (5) reform motor carrier regulations for competition and efficiency, (6) local and regional transportation demand management programs, (7) more efficient land use, (8) more flexible zoning requirements, (9) parking cash out, (10) transportation management associations, (11) location-efficient housing and mortgages, (12) school and campus trip management, (13) car sharing, (14) non-motorized transport improvements, and (15) traffic calming. It was noted that any market reform that leads to more efficient use of existing transportation systems can provide better economic development benefits. 9 refs., 1 tab., 1 fig

Electricity sector reform in Greece

International Nuclear Information System (INIS)

Iliadou, Ekaterini N.

2009-01-01

This paper provides an outlook of the electricity market reform in Greece which started in 2001 and is still developing slowly. This is related to the persisting dominance of the incumbent company and the specificities of the electricity sector of Greece which is heavily dependent on indigenous lignite firing generation, while being located in the periphery of the EU internal electricity and gas markets. Competition through enhancing electricity trade in the region is limited to date, as the establishment of an internal market in South East Europe also progresses slowly. Development of competition through gas-firing generation by new entrants has been the priority adopted by State and Regulator's policies. However, the gas supply market in Greece and in the region still lags behind. (author)

Credit risk identification and suggestions of electricity market

Science.gov (United States)

He, Chuan; Wang, Haichao; Chen, Zhongyuan; Hao, Yuxing; Jiang, Hailong; Qian, Hanhan; Wang, Meibao

2018-03-01

The power industry has a long history of credit problems, and the power industry has credit problems such as power users defaulting on electricity bills before the new electricity reform. With the reform of the power system, the credit problems in the power industry will be more complicated. How to effectively avoid the risk factors existing in the course of market operation and how to safeguard the fairness and standardization of market operation is an urgent problem to be solved. This paper first describes the credit risk in power market, and analyzes the components of credit risk identification in power market, puts forward suggestions on power market risk management.

A Tale of Two Generations: Creativity Growth and Gender Differences over a Period of Education and Curriculum Reforms

Science.gov (United States)

Cheung, Ping Chung; Lau, Sing

2013-01-01

The Wallach-Kogan Creativity Tests were translated into Chinese and later fully computerized for research in Hong Kong. The normative data of two cohorts (1994 and 2002) of school children were employed to test the hypothesis that growth in creative thinking occurs in a society or culture during a period of education and curriculum reforms that…

Market conditions affecting energy efficiency investments

International Nuclear Information System (INIS)

Seabright, J.

1996-01-01

The global energy efficiency market is growing, due in part to energy sector and macroeconomic reforms and increased awareness of the environmental benefits of energy efficiency. Many countries have promoted open, competitive markets, thereby stimulating economic growth. They have reduced or removed subsidies on energy prices, and governments have initiated energy conservation programs that have spurred the wider adoption of energy efficiency technologies. The market outlook for energy efficiency is quite positive. The global market for end-use energy efficiency in the industrial, residential and commercial sectors is now estimated to total more than $34 billion per year. There is still enormous technical potential to implement energy conservation measures and to upgrade to the best available technologies for new investments. For many technologies, energy-efficient designs now represent less than 10--20% of new product sales. Thus, creating favorable market conditions should be a priority. There are a number of actions that can be taken to create favorable market conditions for investing in energy efficiency. Fostering a market-oriented energy sector will lead to energy prices that reflect the true cost of supply. Policy initiatives should address known market failures and should support energy efficiency initiatives. And market transformation for energy efficiency products and services can be facilitated by creating an institutional and legal structure that favors commercially-oriented entities

213 The Role of Stock Market Development on Economic Growth in ...

African Journals Online (AJOL)

User

posited that Douala Stock Exchange does not affect Cameroonian economic growth. Vol. ... liquidity of financial assets, make global and domestic risk diversification possible ... is a link between stock market performance and economic growth in Nigeria, ..... Economic Research (UNU-WIDER): Research Paper No.2006/102.

THE SUCCESS OF EMERGING CAPITAL MARKETS IN DETERMINING ECONOMIC GROWTH

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Ion POHOAŢĂ

2014-06-01

Full Text Available Capital markets are regarded as “the barometer” of economic activity at the national level, but among emerging markets, the position of this segment in the economy is far from ideal. The answers that we try to offer are concerning the contribution of capital markets to the economic welfare of nations in transition from Central and Eastern Europe, using Granger causality tests. Our findings highlight that in this geographical area, the relation between capital markets and economic growth is a bidirectional one. However, although both the establishment of stock exchanges and their liberalization represented governments’ strategy of economic development, their objective was not fully achieved. Institutional transformations are required in order to attract foreign investors.

Influence of macro-economic growth, CAP reforms and biofuel policy on the Polish agri-food sector in 2007–2020

NARCIS (Netherlands)

Tabeau, A.A.

2009-01-01

This paper presents the possible development scenario of the Polish agricultural sector till 2020. It also assesses the impact of macroeconomic growth, CAP reforms and worldwide policies towards the agriculture on this development. The scenario is build using an extended version of the Global Trade

The electricity market 2003

International Nuclear Information System (INIS)

2003-01-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. We now have a common Nordic electricity market that includes all of the Nordic countries, with the exception of Iceland. The objective of the electricity market reform is to introduce increased competition, to give consumers greater freedom of choice and also, by open and increased trade in electricity, create the conditions for efficient pricing. The Swedish Energy Agency is the supervisory authority specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and regularly compile and report current market information. The purpose of 'The Electricity Market 2003' publication is to meet the need for generalized and easily accessible information on the conditions on the Nordic market. The publication also includes summaries of the information from recent years concerning power generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment

Medical liability and health care reform.

Science.gov (United States)

Nelson, Leonard J; Morrisey, Michael A; Becker, David J

2011-01-01

We examine the impact of the Affordable Care Act (ACA) on medical liability and the controversy over whether federal medical reform including a damages cap could make a useful contribution to health care reform. By providing guaranteed access to health care insurance at community rates, the ACA could reduce the problem of under-compensation resulting from damages caps. However, it may also exacerbate the problem of under-claiming in the malpractice system, thereby reducing incentives to invest in loss prevention activities. Shifting losses from liability insurers to health insurers could further undermine the already weak deterrent effect of the medical liability system. Republicans in Congress and physician groups both pushed for the adoption of a federal damages cap as part of health care reform. Physician support for damages caps could be explained by concerns about the insurance cycle and the consequent instability of the market. Our own study presented here suggests that there is greater insurance market stability in states with caps on non-economic damages. Republicans in Congress argued that the enactment of damages caps would reduce aggregate health care costs. The Congressional Budget Office included savings from reduced health care utilization in its estimates of cost savings that would result from the enactment of a federal damages cap. But notwithstanding recent opinions offered by the CBO, it is not clear that caps will significantly reduce health care costs or that any savings will be passed on to consumers. The ACA included funding for state level demonstration projects for promising reforms such as offer and disclosure and health courts, but at this time the benefits of these reforms are also uncertain. There is a need for further studies on these issues.

Navigating the global carbon market

International Nuclear Information System (INIS)

Schneider, Malte; Hendrichs, Holger; Hoffmann, Volker H.

2010-01-01

From a slow start, the clean development mechanism (CDM) market has recently experienced enormous growth. However, the CDM market has been increasingly criticised, resulting in a lively debate about how to reform, complement, or replace it. In order to increase transparency and assist policy-makers in better understanding the current market, we depart from the traditional project-level perspective on CDM and analyse commercial activities by utilising data from UNEP Risoe's CDM Bazaar. To this end, we first establish a seven-step value chain by conducting a factor analysis on the commercial activities indicated in the Bazaar and, second, identify nine prevalent business models with a cluster analysis of all 495 participating organisations. Based on these analyses, we discuss potential impacts on the value chain of different policy scenarios that rely on carbon credits as incentive. We find that the importance of specific regulatory CDM know-how and general business activities such as finance varies strongly with the different policy scenarios. Our analysis serves to sensitise policy-makers and business about implications of different regulatory designs.

Electricity reform in developing and transition countries: A reappraisal

International Nuclear Information System (INIS)

Williams, J.H.; Ghanadan, R.

2006-01-01

Since about 1990, many developing and transition countries have undertaken market-oriented reforms in their electric power sectors. Despite the widespread adoption of a standard policy model, reform processes and outcomes have often failed to meet expectations. Drawing on an extensive literature review and case studies in Asia, Africa, Latin America, and Eastern Europe, this paper describes common features of non-OECD electricity reform and reappraises reform policies and underlying assumptions. Comparison with the sector-focused policy goals of deregulation in OECD countries highlights the importance of national fiscal crises, macroeconomic reforms, and persuasion by multilateral lenders in shaping non-OECD reforms. It also makes clear reform's dependence on attracting foreign capital, and consequent vulnerability to volatile international financial conditions. Case studies of Bolivia, Ghana, India, Poland, and Thailand illustrate reform's diverse pathways and problems in different settings. A broad range of non-OECD reform experiences indicates that disappointing results have often resulted from a narrow focus on finance and cost recovery, inflexibly applied. The paper concludes that improving reform will require emphasizing a broader set of objectives, including service provision, public benefits, effective regulation, and social/political legitimacy. Above all, reforms must be based on realistic assessments of national needs and capabilities. (author)

Legal Limitations on Public Pension Plan Reform. Conference Paper 2009-08

Science.gov (United States)

Monahan, Amy B.

2009-01-01

There is significant interest in reforming retirement plans for public school employees, particularly in light of current market conditions. This paper presents an overview of the various types of state regulation of public pension plans that affect possibilities for reform. Several states have legal protections that effectively prevent a state…

Insurance market penetration and economic growth in Eurozone countries: Time series evidence on causality

Directory of Open Access Journals (Sweden)

Saurav Dash

2018-06-01

Full Text Available This paper examines the causal relationship between insurance market penetration and per capita economic growth in 19 Eurozone countries for the period 1980–2014. We use three different indicators of insurance market penetration (IMP, namely life insurance penetration, non-life insurance penetration, and total (both life and non-life insurance penetration. We particularly emphasize on whether Granger causality exists between these variables both ways, one way, or not at all. Our empirical results perceive both unidirectional and bidirectional causality between IMP and per capita economic growth. However, these results are mostly non-uniform across the Eurozone countries during this selected period. The policy implication is that the economic policies should recognize the differences in the insurance market and per capita economic growth in order to maintain sustainable growth in the Eurozone. Keywords: IMP, Per capita economic growth, Granger causality, Eurozone countries, JEL codes: L96, O32, O33, O43

The Hopeful Liberal. Reflections on Free Markets, Science and Ethics

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Giorgio Baruchello

2013-06-01

Full Text Available International crises and their dramatic outcomes notwithstanding, certain long-lived, deeply rooted beliefs are hard to die. Thus we keep hearing leading politicians and revered economic advisors who call for a return to growth and assert that structural reforms are imperative so that market confidence may be re-established and increased competitiveness achieved, without ever pondering upon the fact that these aims are precisely those that guided the global economy before the crisis. Could it ever be that endless growth, market confidence or competitiveness are misguided aims for the world’s economies? In these reflections of mine, I wish to address one of these resilient beliefs. Specifically, in the traditional philosophical way initiated by Socrates, I shall assess some logical knots arising from a hypothesis, that is, the commonplace liberal notion that the so-called “free market” possesses a unique capacity to generate prosperity.

Global financial reform since 2008: Achievements and shortcomings

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Šoškić Dejan

2015-01-01

Full Text Available The global financial crisis that started in the U.S. had an immediate spillover to the rest of the world financial markets. Next, a decrease in real economic output throughout the developed world occurred simultaneously with high bailout costs for the salvaging of banks and other financial institutions. This vicious combination was at the core of the bank-sovereign interdependence and the sovereign debt crisis of the eurozone. As early as 2008, the G20 announced a thorough global reform agenda with an aim to tackle the root causes of the crises and to transform the system of global financial regulation. Some important reform steps have been made; still, more than six years on, the job is not finished. Where are we in terms of global financial reform, and are we close to creating a more secure global financial system significantly less prone to crisis and bailouts with taxpayers’ money? [Projekat Ministarstva nauke Republike Srbije, br. 179005: Risks of Financial Institutions and Markets in Serbia - A Microeconomic and Macroeconomic Approach

Marketing in the HMO industry: an analysis of spending patterns and enrollment growth results.

Science.gov (United States)

Menges, J J

1988-01-01

The purpose of this paper is to assess the level of marketing spending in the HMO industry and the enrollment growth HMOs have achieved in return for their marketing dollars. This study identifies industry norms that are designed to assist HMOs in the evaluation of their marketing performance. The study is based on data from 1985 to 1986 covering approximately half the HMOs in the country and comprising a substantial proportion of industry-wide enrollment (Table 1). The analyses are designed to allow operational HMOs to compare their marketing efforts, enrollment growth, and marketing costs per new member with industry norms within similar age, model type, enrollment level, and geographic categories. The marketing expenses provided by each HMO are an aggregate figure including sales staff salaries, benefits and commissions, advertising, costs for the production and printing of marketing materials, and all other expenses directly related to the marketing effort. Components of the aggregate marketing expenses, such as the amount spent on advertising versus sales staff compensation, were not available.

Dynamics of productivity change in the Australian electricity industry: Assessing the impacts of electricity reform

Energy Technology Data Exchange (ETDEWEB)

Aghdam, Reza Fathollahzadeh, E-mail: reza_f_a@yahoo.com [Department of Finance and Economics, College of Industrial Management, King Fahd University of Petroleum and Minerals, PO Box 257, Dhahran 31261 (Saudi Arabia)

2011-06-15

The Australian electricity industry has undergone a significant reform, since the mid-1990s. Key changes comprised functional unbundling, market restructuring, regulatory reform, public corporatisation and privatisation. Technological development has been another indisputable constituent of these changes, in the wake of ICT revolution. The principle rationale behind these changes has been that they would improve productivity of the industry and social well-being of people. This paper examines the dynamics of productivity changes in the Australian electricity industry and conducts several hypotheses-testings to identify whether industry's efficiency measures are truly improved as a result of the reform-driven changes. Malmquist Total Factor Productivity Index approach and ANOVA are used for this purpose. The results reveal that the productivity gains in the industry have been largely driven by technological improvements and, to a lesser extent, by reform-induced comparative efficiency gains. On average at national level and for the entire industry, there are efficiency gains that, to large extents, can be attributed to functional unbundling and public corporatisation and, to a lesser extent, to market restructuring and privatisation. The results, however, reveal that the reform-driven changes have made insignificant contribution to comparative efficiency, at the level of thermal generation. - Highlights: > Dynamics of productivity changes in Australian electricity industry are examined. > Several hypotheses are also tested against reform-driven changes. > Technology impact is proved to be far larger than reform-induced impacts. > Unbundling and corporatisation had larger impacts than market restructuring and privatisation. > At thermal generation level, no reform-induced impact is encountered.

Dynamics of productivity change in the Australian electricity industry: Assessing the impacts of electricity reform

International Nuclear Information System (INIS)

Aghdam, Reza Fathollahzadeh

2011-01-01

The Australian electricity industry has undergone a significant reform, since the mid-1990s. Key changes comprised functional unbundling, market restructuring, regulatory reform, public corporatisation and privatisation. Technological development has been another indisputable constituent of these changes, in the wake of ICT revolution. The principle rationale behind these changes has been that they would improve productivity of the industry and social well-being of people. This paper examines the dynamics of productivity changes in the Australian electricity industry and conducts several hypotheses-testings to identify whether industry's efficiency measures are truly improved as a result of the reform-driven changes. Malmquist Total Factor Productivity Index approach and ANOVA are used for this purpose. The results reveal that the productivity gains in the industry have been largely driven by technological improvements and, to a lesser extent, by reform-induced comparative efficiency gains. On average at national level and for the entire industry, there are efficiency gains that, to large extents, can be attributed to functional unbundling and public corporatisation and, to a lesser extent, to market restructuring and privatisation. The results, however, reveal that the reform-driven changes have made insignificant contribution to comparative efficiency, at the level of thermal generation. - Highlights: → Dynamics of productivity changes in Australian electricity industry are examined. → Several hypotheses are also tested against reform-driven changes. → Technology impact is proved to be far larger than reform-induced impacts. → Unbundling and corporatisation had larger impacts than market restructuring and privatisation. → At thermal generation level, no reform-induced impact is encountered.

Views on Turkey's impending ESCO market: Is it promising?

International Nuclear Information System (INIS)

Okay, Esin; Okay, Nesrin; Konukman, Alp Er S.; Akman, Ugur

2008-01-01

Turkey's Energy Efficiency Law (EEL) came into force in May 2007. The EEL will transform energy policies implemented in the government and private sectors. The law and upcoming regulations will offer opportunities for the impending Energy Service Company (ESCO) market in Turkey. In this work, we briefly review the ESCO literature and its financing mechanisms in the world, and present our views with regard to the funding and related risks that are likely to be associated with the forthcoming Turkish ESCO market. These views are backed up with Turkish credit and banking market performance and the lessons learned from implementation of some EU-related projects involving the banking sector and small-and-medium-sized firms. We conclude that in order to create a promising competitive ESCO market, Turkey's policy must be to sustain its average 5% growth rate achieved lately for the coming decade, finish the structural reforms which will invite necessary capital inflows to ensure an economic stability and financing

Pruning the Money-Tree to Ensure Sustainable Growth: Facilitating Sustainable Development Through Market-Based Instruments

Directory of Open Access Journals (Sweden)

AR Paterson

2006-12-01

Full Text Available South Africa’s pristine landscapes and natural resources are under significant threat. This is not subject to debate, but what is, is how to implement a regulatory regime to deal effectively with these environmental realities – a challenge complicated by competing socio-economic imperatives; significant capacity and resource constraints and the need to redress past inequalities, efforts to increase access to land and natural resources as well as perceptions that the environment is an elitist concern. Many countries are exploring alternative ways of providing for effective environmental management such as: co-opting civil society participation; creating markets for environmental goods and services; and using market-based instruments (MBI. The latter form the focus of this article as the National Treasury recently released a draft policy paper for discussion titled A Framework for Considering Market-Based Instruments to Support Environmental Fiscal Reform in South Africa 2006 (Draft Policy Paper.

Does the Energy Sector Reform Call for Reform

International Nuclear Information System (INIS)

Granic, G.

2007-01-01

This paper discusses the course of the energy sector reforms in Europe so far, its objectives, achievements, issues, and dilemmas. In particular, long term and security aspects of energy supply of Europe are analyzed. In addition to the legislative changes regarding the open energy market regulation, and primarily the changes, concerning electricity and natural gas markets, the past period saw dynamic changes of institutional framework such as: increasing members of the European Union, increased number of countries aspiring to the EU (candidate countries and potential candidates), changes in other European countries out of which Russia is the most significant energy producer. The paper analyzes the issue of responsibility between state - regulator - system operator - trader - energy buyer. In Europe, it is more a complex question because the system of responsibility includes the institution of the European Union. Therefore, the relations between EU - state - regulator - system operator - trader - energy buyer are especially important. The paper looks in to the issue of energy company integrations, creation of energy mega-undertakings and their influence on further market development. The question of monopolies now appears in s new form. The conclusions suggest possible measures for institutional influence on energy market development, especially in the network energy systems, which may have a positive impact on system security and stability and markets development and their long term sustainability.(author)

Tax Policy and Labor Market Performance

NARCIS (Netherlands)

Bovenberg, A.L.

2003-01-01

In exploring the impact of tax policy on labor-market performance, the paper first investigates how tax reform impacts labor supply and equilibrium unemployment in representative agent models.The impact of tax policy on labor market performance depends importantly on various other labor-market

Reforms, environmental concerns spurring growth opportunities for gas, electricity in U.S., Europe

International Nuclear Information System (INIS)

Carson, M.

1998-01-01

As the 21st century approaches, deregulation of developed economies, economic liberalization, and an emphasis on cleaner fuels are creating significant growth opportunities for electricity, natural gas, and other forms of energy on both sides of the Atlantic Ocean. The paper discusses the US status, European vs. US fuel use, dominant fuels vs. strategies, fuel use trends, opportunities for electricity growth, and trends and observations. An additional section describes the slowing of the trillion dollar international independent power market

Design choices for electricity markets

Energy Technology Data Exchange (ETDEWEB)

De Vries, Laurens

2007-07-01

Ten years after the first European Electricity Directive, the goal of creating a single European electricity market has not been reached, despite concerted efforts by the EU and certain member states to continue with the reforms. The policy of subsidiarity for many aspects of market design has as a consequence that member countries are implementing a variety of different market designs and are implementing the reforms at varying speeds. The Florence regulatory process, which was intended to provide a bottom-up approach for coordination and harmonization, has effectively stalled and been replaced by a series of 'mini fora' in which smaller groups of countries work on integrating their markets. At the same time, the European electricity supply industry is facing some significant challenges. This paper investigates the different choices that can be made in the design of electricity markets, how they relate to each other and how they relate to the policy goals. (auth)

Health insurance reform: labor versus health perspectives.

Science.gov (United States)

Ammar, Walid; Awar, May

2012-01-01

The Ministry of Labor (MOL) has submitted to the Council of Ministers a social security reform plan. The Ministry of Public Health (MOPH) considers that health financing should be dealt with as part of a more comprehensive health reform plan that falls under its prerogatives. While a virulent political discussion is taking place, major stakeholders' inputs are very limited and civil society is totally put away from the whole policy making process. The role of the media is restricted to reproducing political disputes, without meaningful substantive debate. This paper discusses health insurance reform from labor market as well as public health perspectives, and aims at launching a serious public debate on this crucial issue that touches the life of every citizen.

Assessing the options for a competitive electricity market in Israel

International Nuclear Information System (INIS)

Tishler, A.; Newman, J.; Spekterman, I.; Woo, C.K.

2008-01-01

In July 2006, the Israeli government affirmed its 2003 decision to reform the Israeli electricity industry, currently dominated by the Israel Electric Corporation (IEC), a government-owned vertically integrated electric utility. The reform calls for the deregulation and privatization of the generation and customer service segments of the industry, leaving transmission and distribution (T and D) regulated to provide open access to all end-users. This paper projects the performance of the post-reform market structure for the period 2007-2030 relative to that of the status quo. The post-reform generation market's prices are determined according to the Cournot conjecture. To mitigate excessive price volatility and surges, the generation market also includes a firm that is contracted to make peak electricity sales to customers at a pre-determined price, only when the competitive price exceeds the pre-determined level. Our results show (a) the post-reform retail prices for end-users will exceed those under the status quo; (b) the post-reform profits may not be sufficient to keep firms operating combined cycle generation units financially viable; and (c) the net benefit from deregulating the electricity sector in Israel will most likely be negative. (author)

The future direction of electricity reform in APEC economies

International Nuclear Information System (INIS)

Pritchard, Robert

2005-01-01

A 2003 study of Electricity Supply Industry (ESI) reform experience in the 21 Asia-Pacific Economic Cooperation (APEC) economies emphasised that the overriding principle of ESI reform must be to maintain the security and stability of the entire power system. This is what differentiates ESI reform from reform of other industries. For all economies, particularly developing economies, attracting private investment in the ESI is a vital ongoing need. However, since the mid-1990s, private investors have become more risk-averse. Today, it is less safe for governments to assume that their 'reformed' electricity sectors will attract the requisite level of private investment. The APEC study found that competitive electricity markets are unsuited to developing economies in the early stages of reform. However, enterprise level reforms can produce major gains by commercialising and corporatising electricity utilities and by providing them with economic incentives to operate to high technical and commercial standards. The APEC study also emphasised that governments must remain responsible for the outcomes of ESI reform irrespective of any changes in industry structure and ownership. This is a fundamental responsibility which cannot be left to a regulator. (Author)

The prospects for national health insurance reform.

Science.gov (United States)

Belcher, J R; Palley, H A

1991-01-01

This article explores the unequal access to health care in the context of efforts by the American Medical Association (AMA) and its allies to maintain a market-maximizing health care system. The coalition between the AMA and its traditional allies is breaking down, in part, because of converging developments creating an atmosphere which may be more conducive to national health care reform and the development of a reformed health care delivery system that will be accessible, adequate, and equitable in meeting the health care and related social service needs of the American people.

The political economy of reforms: Empirical evidence from post- communist transition in the 1990s

OpenAIRE

Byung-Yeon Kim; Jukka Pirttilä

2003-01-01

Using a novel data set from post-communist countries in the 1990s, this paper examines linkages between political constraints, economic reforms and growth. A dynamic panel analysis suggests public support for reform is negatively associated with income inequality and unemployment. Both the ex post and ex ante political constraints of public support affect progress in economic reform, which in turn influences economic growth. The findings highlight that while economic reforms are needed to fos...

Mexico´s Energy Reform : an analysis of the market, new policy and integration of renewable energy for economic and sustainable development

OpenAIRE

Favela, Alfredo Rojas

2016-01-01

In the framework of the approved Energy Reform in 2013, Mexico puts an end to seven decades of centralized control of the energy and electricity markets within the government through the State governed companies CFE (Federal Electricity Commission) and PEMEX (Mexican Oil). During the largest part of last century and the beginning of the current, the Mexican government relied heavily on the revenues generated by PEMEX through the sale of oil to foreign countries and tax revenues...

Labour Markets for Inclusive Growth in Latin America | IDRC ...

International Development Research Centre (IDRC) Digital Library (Canada)

... poverty, corruption and low level of education (Latinobarómetro 2009). ... the pervasiveness of informal employment and what it means for growth and inclusion. ... yearly summer school on evidence-based analysis of labour markets and inclusive ... In partnership with UNESCO's Organization for Women in Science for the ...

Why public health services? Experiences from profit-driven health care reforms in Sweden.

Science.gov (United States)

Dahlgren, Göran

2014-01-01

Market-oriented health care reforms have been implemented in the tax-financed Swedish health care system from 1990 to 2013. The first phase of these reforms was the introduction of new public management systems, where public health centers and public hospitals were to act as private firms in an internal health care market. A second phase saw an increase of tax-financed private for-profit providers. A third phase can now be envisaged with increased private financing of essential health services. The main evidence-based effects of these markets and profit-driven reforms can be summarized as follows: efficiency is typically reduced but rarely increased; profit and tax evasion are a drain on resources for health care; geographical and social inequities are widened while the number of tax-financed providers increases; patients with major multi-health problems are often given lower priority than patients with minor health problems; opportunities to control the quality of care are reduced; tax-financed private for-profit providers facilitate increased private financing; and market forces and commercial interests undermine the power of democratic institutions. Policy options to promote further development of a nonprofit health care system are highlighted.

Hot money and China's stock market volatility: Further evidence using the GARCH-MIDAS model

Science.gov (United States)

Wei, Yu; Yu, Qianwen; Liu, Jing; Cao, Yang

2018-02-01

This paper investigates the influence of hot money on the return and volatility of the Chinese stock market using a nonlinear Granger causality test and a new GARCH-class model based on mixed data sampling regression (GARCH-MIDAS). The empirical results suggest that no linear or nonlinear causality exists between the growth rate of hot money and the Chinese stock market return, implying that the Chinese stock market is not driven by hot money and vice versa. However, hot money has a significant positive impact on the long-term volatility of the Chinese stock market. Furthermore, the dependence between the long-term volatility caused by hot money and the total volatility of the Chinese stock market is time-variant, indicating that huge volatilities in the stock market are not always triggered by international speculation capital flow and that Chinese authorities should further focus on more systemic reforms in the trading rules and on effectively regulating the stock market.

Complicating the Rhetoric: How Racial Construction Confounds Market-Based Reformers' Civil Rights Invocations

Science.gov (United States)

Hernández, Laura E.

2016-01-01

Reformers today maintain the use of civil rights rhetoric when advocating for policies that address educational inequity. While continuing the legacy of earlier civil rights activists, the leaders invoking this rhetoric and the educational platforms they promote differ greatly from previous decades. Not only does this new crop of reformers differ…

Powering China: Reforming the electric power industry in China

International Nuclear Information System (INIS)

Yi-Chong Xu

2002-01-01

The book reports on the rapidly changing face of the electricity business in China. Reforms by the central government and the need for more and more electric power have pushed the electricity sector from a central planned economy to a markets-based system. The international ramifications of China's reform programme are discussed. The author describes electricity industry reform in other countries including the USA and UK. The author points out that in China after 1998 there was a move to recentralise control but by then it was too late to reverse the reforms. The problems of tariff policies, pricing, and sources of new investments, including from foreign countries, are discussed. The final section of the book deals with problems arising from the need for massive retrenchment of power-section workers, cross-subsidies, and triangular debts. The book is said to provide a sound description of the political economy of power reform in China without getting bogged down in economic modelling

Irrational Exuberance for Market-Based Reform: How Federal Turnaround Policies Thwart Democratic Schooling

Science.gov (United States)

Trujillo, Tina; Renée, Michelle

2015-01-01

Background: In 2009, the Obama Administration announced its intention to rapidly "turn around" 5,000 of the nation's lowest-performing schools. To do so, it relied on the School Improvement Grant (SIG) program to provide temporary funding for states and schools, and to mandate drastic, school-level reforms. Most of these reforms require…

 Trade reform and gender in Mozambique

DEFF Research Database (Denmark)

Arndt, Channing; Robinson, Sherman; Tarp, Finn

2006-01-01

treatment of production technology and import protection, and is linked to a top-down microsimulation model of households. We find that trade policy has only a modest effect on gender wage differentials, and conclude that policy concerns with gender imbalances should focus on skill upgrading and sectoral......This paper uses an economywide model to study the impact of trade policy reform on male and female labor in Mozambique. The model disaggregates factor markets by skill and gender, and incorporates links between trade reform, product prices and wages by gender. The model also includes a detailed...... mobility rather than on trade policy...

Gender equity and health sector reform in Colombia: mixed state-market model yields mixed results.

Science.gov (United States)

Ewig, Christina; Bello, Amparo Hernández

2009-03-01

In 1993, Colombia carried out a sweeping health reform that sought to dramatically increase health insurance coverage and reduce state involvement in health provision by creating a unitary state-supervised health system in which private entities are the main insurers and health service providers. Using a quantitative comparison of household survey data and an analysis of the content of the reforms, we evaluate the effects of Colombia's health reforms on gender equity. We find that several aspects of these reforms hold promise for greater gender equity, such as the resulting increase in women's health insurance coverage. However, the reforms have not achieved gender equity due to the persistence of fees which discriminate against women and the introduction of a two-tier health system in which women heads of household and the poor are concentrated in a lower quality health system.

Electric power market regulations in UK

International Nuclear Information System (INIS)

Federico, G.; Napolano, L.

2000-01-01

The wholesale electricity market in UK is being radically reformed, with the abolition of a centralised market (the Pool) and the introduction of a system based around bilateral trading and real-time balancing (NETA), with the aim of increasing competition in the sector. This article analyses the English experience to draw some implications on the relationship between market design, market structure and market power, and to provide some insights for the design of the future Italian market [it

The impact of slow economic growth on health sector reform: a cross-national perspective.

Science.gov (United States)

Saltman, Richard B

2018-01-24

This paper assesses recent health sector reform strategies across Europe adopted since the onset of the 2008 financial crisis. It begins with a brief overview of the continued economic pressure on public funding for health care services, particularly in tax-funded Northern European health care systems. While economic growth rates across Europe have risen a bit in the last year, they remain below the level necessary to provide the needed expansion of public health sector revenues. This continued public revenue shortage has become the central challenge that policymakers in these health systems confront, and increasingly constrains their potential range of policy options. The paper then examines the types of targeted reforms that various European governments have introduced in response to this increased fiscal stringency. Particularly in tax-funded health systems, these efforts have been focused on two types of changes on the production side of their health systems: consolidating and/or centralizing administrative authority over public hospitals, and revamping secondary and primary health services as well as social services to reduce the volume, cost and less-than-optimal outcomes of existing public elderly care programs. While revamping elderly care services also was pursued in the social health insurance (SHI) system in the Netherlands, both the Dutch and the German health systems also made important changes on the financing side of their health systems. Both types of targeted reforms are illustrated through short country case studies. Each of these country assessments flags up new mechanisms that have been introduced and which potentially could be reshaped and applied in other national health sector contexts. Reflecting the tax-funded structure of the Canadian health system, the preponderance of cases discussed focus on tax-funded countries (Norway, Denmark, Sweden, Finland, England, Ireland), with additional brief assessments of recent changes in the SHI

SELECTED MODELS OF RAIL MARKETS IN THE CONTEXT OF LIBERALIZATION OF THE RAIL MARKET IN EUROPE

Directory of Open Access Journals (Sweden)

Krystian Pietrzak

2016-09-01

Full Text Available In the paper author has made an attempt at presenting problems of the operation of European railway transport market against the background of changes taking place in the European Union transport market. These changes are the result of processes aimed at liberalizing the market. In addition, this article defines the conditions of reforms in the Eu-ropean rail market by highlighting various models of its functioning.

The Gendered Consequences of Unemployment Insurance Reforms

NARCIS (Netherlands)

Mooi-Reci, Irma; Mills, Melinda

2012-01-01

This study examines whether a series of unemployment insurance benefit reforms that took place over a 20-year period in the Netherlands had a gendered effect on the duration of unemployment and labor market outcomes. Using longitudinal data from the Dutch Labor Supply Panel (OSA) over the period

The gendered consequences of unemployment insurance reforms

NARCIS (Netherlands)

Mooi-Reci, I.; Mills, M.

2012-01-01

This study examines whether a series of unemployment insurance benefit reforms that took place over a 20-year period in the Netherlands had a gendered effect on the duration of unemployment and labor market outcomes. Using longitudinal data from the Dutch Labor Supply Panel (OSA) over the period

Reforms and innovations in Nordic vocational education:

DEFF Research Database (Denmark)

Jørgensen, Christian Helms

2018-01-01

The chapter examines policy reforms and innovations in the Nordic vocational education and training systems (VET) related to two challenges. The first is to improve the links of the VET system to the labour market and to ease the students’ transition to employment. It examines three new types...

The Impact of State Medical Malpractice Reform on Individual-Level Health Care Expenditures.

Science.gov (United States)

Yu, Hao; Greenberg, Michael; Haviland, Amelia

2017-12-01

Past studies of the impact of state-level medical malpractice reforms on health spending produced mixed findings. Particularly salient is the evidence gap concerning the effect of different types of malpractice reform. This study aims to fill the gap. It extends the literature by examining the general population, not a subgroup or a specific health condition, and controlling for individual-level sociodemographic and health status. We merged the Database of State Tort Law Reforms with the Medical Expenditure Panel Survey between 1996 and 2012. We took a difference-in-differences approach to specify a two-part model for analyzing individual-level health spending. We applied the recycled prediction method and the bootstrapping technique to examining the difference in health spending growth between states with and without a reform. All expenditures were converted to 2010 U.S. dollars. Only two of the 10 major state-level malpractice reforms had significant impacts on the growth of individual-level health expenditures. The average annual expenditures in states with caps on attorney contingency fees increased less than that in states without the reform (p negligence rule, the average annual expenditures increased more in both states with a pure comparative fault reform (p < .05) and states with a comparative fault reform that barred recovery if the plaintiff's fault was equal to or greater than the defendant's (p < .05). A few state-level malpractice reforms had significantly affected the growth of individual-level health spending, and the direction and magnitude of the effects differed by type of reform. © Health Research and Educational Trust.

Tax policy and labor market performance

NARCIS (Netherlands)

A.L. Bovenberg (Lans)

2003-01-01

textabstractIn exploring the impact of tax policy on labor-market performance, the paper first investigates how tax reform impacts labor supply and equilibrium unemployment in representative agent models. The impact of tax policy on labor market performance depends importantly on various other

The Impact of Foreign Direct Investment (FDI on the Environment: Market Perspectives and Evidence from China

Directory of Open Access Journals (Sweden)

Jiajia Zheng

2017-03-01

Full Text Available Foreign direct investment (FDI may have a positive effect on the level of pollution in host countries, as described by the pollution haven hypothesis (PHH. However, this kind of effect may depend on the economic conditions in host countries. In this study, we conduct research on the FDI’s effect on China’s CO2 emissions during the market-oriented reform. The results are as follows. Firstly, FDI directly promotes China’s CO2 emissions. Secondly, with market-oriented reform, this positive effect from FDI is lowering year by year, which indicates that the market-oriented reform could alleviate the positive effect of FDI on China’s CO2 emissions. Thirdly, as China’s market-oriented reform was implemented gradually from experimental zones to the whole country, regional market development is uneven, and as such so is FDI’s effect on local CO2 emissions. Provinces in the eastern area generally evidenced higher market development and lower CO2 emissions from FDI, while four provinces in west area evidenced both lower market development and higher CO2 emissions from FDI.

Public sector reform and demand for human resources for health (HRH

Directory of Open Access Journals (Sweden)

Lethbridge Jane

2004-11-01

Full Text Available Abstract This article considers some of the effects of health sector reform on human resources for health (HRH in developing countries and countries in transition by examining the effect of fiscal reform and the introduction of decentralisation and market mechanisms to the health sector. Fiscal reform results in pressure to measure the staff outputs of the health sector. Financial decentralisation often leads to hospitals becoming "corporatised" institutions, operating with business principles but remaining in the public sector. The introduction of market mechanisms often involves the formation of an internal market within the health sector and market testing of different functions with the private sector. This has immediate implications for the employment of health workers in the public sector, because the public sector may reduce its workforce if services are purchased from other sectors or may introduce more short-term and temporary employment contracts. Decentralisation of budgets and administrative functions can affect the health sector, often in negative ways, by reducing resources available and confusing lines of accountability for health workers. Governance and regulation of health care, when delivered by both public and private providers, require new systems of regulation. The increase in private sector provision has led health workers to move to the private sector. For those remaining in the public sector, there are often worsening working conditions, a lack of employment security and dismantling of collective bargaining agreements. Human resource development is gradually being recognised as crucial to future reforms and the formulation of health policy. New information systems at local and regional level will be needed to collect data on human resources. New employment arrangements, strengthening organisational culture, training and continuing education will also be needed.

Powering Africa: Meeting the financing and reform challenges

International Nuclear Information System (INIS)

Eberhard, Anton; Shkaratan, Maria

2012-01-01

Sub-Saharan Africa faces chronic power problems, including insufficient generation capacity, low connectivity, poor reliability, and high costs, all of which constrain development. The investment requirements to meet Africa's power needs are noted and strategies to address the funding gap are set out. The time for an ideological debate on public versus private investment is over—both are needed. Africa's key challenges are the management of hybrid power markets, the reform of state-owned utilities, cost-reflective pricing, better targeting of subsidies, the nimbler rollout of electrification, and stronger regional integration. - Highlights: ► Africa has insufficient power generation, low connectivity, poor reliability, and high costs. ► Investment requirements to meet Africa's power needs are calculated. ► Key challenges are the management of hybrid power markets and the reform of state-owned utilities. ► Other challenges are cost-reflective pricing, extending access, and stronger regional integration.

The new institutionalist approaches to health care reform: lessons from reform experiences in Central Europe.

Science.gov (United States)

Sitek, Michał

2010-08-01

This article discusses the applicability of the new institutionalism to the politics of health care reform in postcommunist Central Europe. The transition to a market economy and democracy after the fall of communism has apparently strengthened the institutional approaches. The differences in performance of transition economies have been critical to the growing understanding of the importance of institutions that foster democracy, provide security of property rights, help enforce contracts, and stimulate entrepreneurship. From a theoretical perspective, however, applying the new institutionalist approaches has been problematic. The transitional health care reform exposes very well some inherent weaknesses of existing analytic frameworks for explaining the nature and mechanisms of institutional change. The postcommunist era in Central Europe has been marked by spectacular and unprecedented radical changes, in which the capitalist system was rebuilt in a short span of time and the institutions of democracy became consolidated. Broad changes to welfare state programs were instituted as well. However, the actual results of the reform processes represent a mix of change and continuity, which is a challenge for the theories of institutional change.

Market-Driven Solutions to Economic, Environmental, and Social Issues Related to Water Management in the Western USA

Directory of Open Access Journals (Sweden)

Jordan A. Clayton

2009-10-01

Full Text Available Water management issues continue to plague the western United States, including rapid population growth, degraded aquatic ecosystems, unfulfilled claims to American Indian users, the threat of global warming, an economic recession, and many other issues. This essay outlines some advantages of market-driven reforms to the management of water resources in the western USA. Historical and contemporary western water resource issues are examined from economic, environmental, and social viewpoints. In all such contexts, it is argued that regulated water markets provide flexible and just solutions to western water dilemmas, and reallocations may provide much-needed additional water supply.

Vaping versus JUULing: how the extraordinary growth and marketing of JUUL transformed the US retail e-cigarette market.

Science.gov (United States)

Huang, Jidong; Duan, Zongshuan; Kwok, Julian; Binns, Steven; Vera, Lisa E; Kim, Yoonsang; Szczypka, Glen; Emery, Sherry L

2018-05-31

While national surveys showed declines in e-cigarette use in the USA between 2015 and 2016, recent reports indicate that JUUL, a sleekly designed e-cigarette that looks like a USB drive, is increasingly being used by youth and young adults. However, the extent of JUUL's growth and its marketing strategy have not been systematically examined. A variety of data sources were used to examine JUUL retail sales in the USA and its marketing and promotion. Retail store scanner data were used to capture the retail sales of JUUL and other major e-cigarette brands for the period 2011-2017. A list of JUUL-related keywords was used to identify JUUL-related tweets on Twitter; to identify JUUL-related posts, hashtags and accounts on Instagram and to identify JUUL-related videos on YouTube. In the short 3-year period 2015-2017, JUUL has transformed from a little-known brand with minimum sales into the largest retail e-cigarette brand in the USA, lifting sales of the entire e-cigarette category. Its US$150 million retail sales in the last quarter of 2017 accounted for about 40% of e-cigarette retail market share. While marketing expenditures for JUUL were moderate, the sales growth of JUUL was accompanied by a variety of innovative, engaging and wide-reaching campaigns on Twitter, Instagram and YouTube, conducted by JUUL and its affiliated marketers. The discrepancies between e-cigarette sales data and the prevalence of e-cigarette use from surveys highlight the challenges in tracking and understanding the use of new and emerging tobacco products. In a rapidly changing media environment, where successful and influential marketing campaigns can be conducted on social media at little cost, marketing expenditures alone may not fully capture the influence, reach and engagement of tobacco marketing. © Article author(s) (or their employer(s) unless otherwise stated in the text of the article) 2018. All rights reserved. No commercial use is permitted unless otherwise expressly granted.

Financial development and corporate growth in the EU single market

Czech Academy of Sciences Publication Activity Database

Bena, J.; Jurajda, Štěpán

2011-01-01

Roč. 78, č. 311 (2011), s. 401-428 ISSN 0013-0427 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : financial development * corporate growth * access to financial markets Subject RIV: AH - Economics Impact factor: 1.152, year: 2011

China Update: Economic Reforms and Political Realities.

Science.gov (United States)

Eaton, Jana Sackman

1999-01-01

Illustrates that China has been undergoing an unprecedented rapidity of change. Discusses the high unemployment rates, job markets, reform movements, differences in economic equality, the role of the National People's Congress, and the changing political climate. Reveals that freedom is subtly beginning to permeate the lives of Chinese citizens.…

Impact of Insurance Market on Economic Growth in Post-Transition Countries

Directory of Open Access Journals (Sweden)

Phutkaradze Jaba

2014-12-01

Full Text Available The purpose of this work is to identify whether the development of an insurance market is linked to economic growth in former transition countries. A multiple regression analysis is employed to estimate the insurance-growth relationship, using a cross-country panel dataset analysis tracking annual total insurance penetration in 10 countries over the 2000-2012 period, and applying a fixed effect model to test the hypothesis that this linkage is demonstrably positive. The results show a negative and statistically non-significant correlation between insurance and GDP growth, suggesting a lack of evidence that insurance promotes economic growth in post-transition economies.

Enhancing forest tenure reforms through more responsive regulations

Directory of Open Access Journals (Sweden)

Anne M Larson

2012-01-01

Full Text Available Forest tenure reforms have offered new opportunities for communities to obtain formal rights to forests and forest benefits, but at the same time a variety of limitations are placed on livelihood options. This article draws on several case studies of reforms in Africa, Asia and Latin America to analyse the regulations accompanying reforms. It identifies three types of regulations, namely rules that limit areas available to local communities; rules that delineate conservation areas and impose related limits on use; and bureaucratic requirements for permits and management plans, which restrict the commercial use and marketing of valuable forest products. It discusses problems with these regulations, and proposes a simple framework for identifying ways to promote regulations that work for forest conservation but are more responsive to the needs of communities and forests.

Fiscal crisis, social security reform and vulnerable population

Directory of Open Access Journals (Sweden)

Peinado Patricia

2014-01-01

Full Text Available The aging process we are witnessing in the majority of developed countries is raising financial sustainability problems in the pay-as-you-go pension system. The reforms designed to re-establish the financial equilibrium of pension systems may put one of the most important objectives of these systems at risk: to reduce the poverty rate among the elderly. This paper studies the effects that the reforms implemented in the Spanish pension system would have on the poverty rate of the retired population. The two main novelties presented are the following. First, the collective under study is focused on the most vulnerable workers. Second, the effects of the reforms are studied taking into account the labour market situation of the individuals in the years prior to retirement.

Security of gas supply in open markets. LNG and power at a turning point

International Nuclear Information System (INIS)

2004-01-01

Since the 'IEA Study on Security of Gas Supply' was published in 1995, many member countries have started to open their gas and electricity markets to competition. Governments progressively withdrew from directly managing the gas sector; they concentrate now on setting objectives and the framework for competition. With the continued growth of gas demand and the decline of domestic reserves, most IEA countries have to import more gas, mainly for power generation. This requires access to gas reserves at competitive conditions, as well as timely investment in new infrastructure to ensure a reliable gas supply. Reform has led to open markets, where supply and demand are balanced by the market. In the gas sector, supply is capacity-bound and large parts of the demand side are inelastic. The study looks at how governments and other stakeholders in IEA countries respond to the need to create a framework that enables the players to deliver secure and reliable gas supply at the border and all the way down to the final customer. This book analyses the most recent developments in security of gas supply and reliability in all IEA regions in the context of open markets and in view of the new demand and supply trends. A CD-Rom featuring the positions of the main stakeholders (governments, regulators, industry, customers and other organisations) is included with the publication. 'Security of Gas Supply in Open Markets' is a follow-up of 'Flexibility in Natural Gas Supply and Demand' in the IEA series on energy market reforms

The Effect of Massachusetts' Health Reform on Employer-Sponsored Insurance Premiums.

Science.gov (United States)

Cogan, John F; Hubbard, R Glenn; Kessler, Daniel

2010-01-01

In this paper, we use publicly available data from the Medical Expenditure Panel Survey - Insurance Component (MEPS-IC) to investigate the effect of Massachusetts' health reform plan on employer-sponsored insurance premiums. We tabulate premium growth for private-sector employers in Massachusetts and the United States as a whole for 2004 - 2008. We estimate the effect of the plan as the difference in premium growth between Massachusetts and the United States between 2006 and 2008-that is, before versus after the plan-over and above the difference in premium growth for 2004 to 2006. We find that health reform in Massachusetts increased single-coverage employer-sponsored insurance premiums by about 6 percent, or $262. Although our research design has important limitations, it does suggest that policy makers should be concerned about the consequences of health reform for the cost of private insurance.

European Union dairy policy reform: impact and challenges

NARCIS (Netherlands)

Jongeneel, R.A.

2011-01-01

Recent Common Agricultural Policy (CAP) reforms have affected dairy policy, including the milk quota system, and increased the market orientation of the sector. A modelling exercise, using the European Dairy Industry Model (EDIM), simulates an initial sharp decline in the EU milk price in response

An Empirical Analysis of Stock Market Development and Economic Growth: The Case of Macedonia

Directory of Open Access Journals (Sweden)

Lazarov Darko

2016-12-01

Full Text Available This paper has two goals. The first goal is to investigate the influence of stock market development on economic growth for a group of 14 transition economies from the Central and South-East European (CSEE region in the period 2002-2012, while the second is to analyze the main characteristics and specificities of the stock market in the Republic of Macedonia. To fulfil the first goal, we apply panel regression models (fixed and random effects and a dynamic panel model (Generalized Method of Moments – GMM, while we use a single country approach and comparative analysis to examine the main characteristics of the Macedonian stock market. The estimated results indicate that stock market development is positive and significantly correlated with economic growth. Additionally, the comparative analysis of the stock market in the Republic of Macedonia suggests that the Macedonian stock market is still underdeveloped and faces a number of challenges before it can enter a new phase of development after the negative impact of the global financial crisis. Those challenges include capital market regional integration and the harmonization of legal and institutional frameworks such as bankruptcy procedures, accounting and reporting standards, public sector regulatory bodies, corporate governance and a liberalized trade regime.

Marketization of welfare services in Scandinavia

DEFF Research Database (Denmark)

Petersen, Ole Helby; Hjelmar, Ulf

2013-01-01

Scandinavian welfare states are undergoing a gradual transformation towards a more market-based mode of public service delivery. The results of these marketization reforms are, however, insufficiently documented in terms of their consequences for the price and quality of welfare services...... the evidence base and inform future policy-making on marketization in general and within the welfare areas in particular....

Towards a regional electricity market in Southeast Europe

International Nuclear Information System (INIS)

Ichord, R.F. Jr.

2002-01-01

Historical evolution of the region's electric power policy is overviewed. The regional characteristics of Southern Europe's electric power market are summarized. The reform indicators of the region's electricity markets are discussed. The status of privatization is presented. Factors in developing regional electricity market are considered. (R.P.)

A Systems Model to Make, Market, and Lead Your Way towards Sustained Growth

Directory of Open Access Journals (Sweden)

Raman Kumar Agrawalla

2017-06-01

Full Text Available Business enterprises exist in a world that is fiercely competitive, tied with huge global uncertainties. They always encounter increasing pressure on prices and margins. Hence, irrespective of their domain of operations and industry, businesses are naturally concerned about their growth, specifically sustained profitable growth, in today’s world. Marketing is a key business function to market and lead a business towards sustained profitable growth but the problem is it lacks a systems perspective in its operations, strategy, and practice. Further, given the confluence and systemic interactions of various economic, digital, and competitive forces; the challenge for different business functions—including marketing—increases tremendously. In this context, it is important for business enterprises to have a systems perspective to find their ways to growth that will be sustained. This calls for a holistic approach to assimilate and steer the business functions in any enterprise. The present conceptual paper focuses on an important business function for sustained growth in a holistic way and presents a systems model, called ‘Value Based Business Approach (VBBA-marketing’, which has potential to guide and steer companies and business enterprises to create a path for their sustained profitable growth.

The People's Republic of China: Fueling tremendous growth with nuclear power

International Nuclear Information System (INIS)

Lindberg, K.D.

1993-01-01

China has initiated an aggressive, national industrialization program and has gradually been introducing market reforms, particularly in the southeastern section of the country. This program has met with tremendous success, and when combined with the growing population base, China has become one of the fastest-growing and most important industrializing regions of the world. This type of growth requires enormous amounts of power, and China has made a major commitment to nuclear power to help fuel this expansion

The Effect of Stock Market on Economic Growth In Nigeria | Sylvester ...

African Journals Online (AJOL)

Ordinary least squares regression (OLS) was employed using the data from 1989 to 2008. The results indicated that there is a positive relationship between economic growth and all the stock market development variables used. With 99 percent ...

Digital Innovations: Startup Marketing Strategy for Global Growth

OpenAIRE

Gröhn, Hanna

2017-01-01

This thesis discusses the relatively new phenomena of innovative digital products created by startup companies, who often must scale globally fast, before the volatile trends or the fierce competition of the digital marketspace take over. International entry itself is no longer the issue, but rather standing out in the crowd while balancing resources and flexibility. The focus is on how startups can induce global growth and tackle structural obstacles by means of marketing strategy. The t...

Market design for generation adequacy: Healing causes rather than symptoms

International Nuclear Information System (INIS)

Roques, Fabien A.

2008-01-01

This paper argues that electricity market reform - particularly the need for complementary mechanisms to remunerate capacity - need to be analysed in the light of the local regulatory and institutional environment. If there is a lack of investment, the priority should be to identify the roots of the problem. The lack of demand-side response, short-term reliability management procedures and non-market ancillary services provision often undermine market reflective scarcity pricing and distort long-term investment incentives. The introduction of a capacity mechanism should come as an optional supplement to wholesale and ancillary markets improvements. Priority reforms should focus on encouraging demand-side responsiveness and reducing scarcity price distortions introduced by balancing and congestion management through better dialog between network engineers and market operators. (author)

Financial innovation: Economic growth versus instability in bank-based versus financial market driven economies

NARCIS (Netherlands)

Boot, A.W.A.; Marinč, M.

2010-01-01

A fundamental feature of recent financial innovations is their focus on augmenting marketability. We point at the potential dark side of marketability. The paper casts its analysis of the pros and cons of financial innovation within the financial development and economic growth debate. The

Pharma Opportunities and Risks Multiply as Regulatory Reform Remakes APAC: Expanded Accelerated Pathways Challenge Developer Value Story, Evidence Collection, and Market Access Strategies.

Science.gov (United States)

Grignolo, Alberto; Mingping, Zhang

2018-01-01

Sweeping reforms in the largest markets of the Asia-Pacific region are transforming the regulatory and commercial landscape for foreign pharmaceutical companies. Japan, South Korea, and China are leading the charge, establishing mechanisms and infrastructure that both reflect and help drive international regulatory convergence and accelerate delivery of needed, innovative products to patients. In this rapidly evolving regulatory and commercial environment, drug developers can benefit from reforms and proliferating accelerated pathway (AP) frameworks, but only with regulatory and evidence-generation strategies tailored to the region. Otherwise, they will confront significant pricing and reimbursement headwinds. Although APAC economies are at different stages of development, they share a common imperative: to balance pharmaceutical innovation with affordability. Despite the complexity of meeting these sometimes conflicting demands, companies that focus on demonstrating and delivering value for money, and that price new treatments reasonably and sustainably, can succeed both for their shareholders and the region's patient population.

On the Path to SunShot. Utility Regulatory and Business Model Reforms for Addressing the Financial Impacts of Distributed Solar on Utilities

Energy Technology Data Exchange (ETDEWEB)

Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Miller, John [National Renewable Energy Lab. (NREL), Golden, CO (United States); Sigrin, Ben [National Renewable Energy Lab. (NREL), Golden, CO (United States); Reiter, Emerson [National Renewable Energy Lab. (NREL), Golden, CO (United States); Cory, Karlynn [National Renewable Energy Lab. (NREL), Golden, CO (United States); McLaren, Joyce [National Renewable Energy Lab. (NREL), Golden, CO (United States); Seel, Joachim [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Mills, Andrew [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Darghouth, Naim [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Satchwell, Andrew [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

2016-05-01

Net-energy metering (NEM) has helped drive the rapid growth of distributed PV (DPV) but has raised concerns about electricity cost shifts, utility financial losses, and inefficient resource allocation. These concerns have motivated real and proposed reforms to utility regulatory and business models. This report explores the challenges and opportunities associated with such reforms in the context of the U.S. Department of Energy's SunShot Initiative. Most of the reforms to date address NEM concerns by reducing the benefits provided to DPV customers and thus constraining DPV deployment. Eliminating NEM nationwide, by compensating exports of PV electricity at wholesale rather than retail rates, could cut cumulative DPV deployment by 20% in 2050 compared with a continuation of current policies. This would slow the PV cost reductions that arise from larger scale and market certainty. It could also thwart achievement of the SunShot deployment goals even if the initiative's cost targets are achieved. This undesirable prospect is stimulating the development of alternative reform strategies that address concerns about distributed PV compensation without inordinately harming PV economics and growth. These alternatives fall into the categories of facilitating higher-value DPV deployment, broadening customer access to solar, and aligning utility profits and earnings with DPV. Specific strategies include utility ownership and financing of DPV, community solar, distribution network operators, services-driven utilities, performance-based incentives, enhanced utility system planning, pricing structures that incentivize high-value DPV configurations, and decoupling and other ratemaking reforms that reduce regulatory lag. These approaches represent near- and long-term solutions for preserving the legacy of the SunShot Initiative.

Schooling Reforms in England: From Quasi-Markets to Co-Opetition?

Science.gov (United States)

Adnett, Nick; Davies, Peter

2003-01-01

Economic analysis of the impact of recent schooling reforms in England designed to promote competition or cooperation between schools. Outlines the theoretical relationships between school competition and cooperation and school effectiveness. Briefly describes the development of policy in England and analyzes the interaction between the incentives…

Notes from the laboratories of democracy: state government enactments of market- and state-based health insurance reforms in the 1990s.

Science.gov (United States)

Barrilleaux, Charles; Brace, Paul

2007-08-01

We identify two policy strategies that state governments pursue to reduce uninsurance, and we classify policies as being either state based or market based. The two policy strategies are distinguished by whether states rely on the institutional capabilities of the state or market processes to provide insurance. We develop and test models to explain states' adoptions of each type of policy. Using Poisson regression, we evaluate hypotheses suggested by the two strategies with data from U.S. states in the 1990s. The results indicate that institutionally more-capable state governments with strong liberal-party presence in the legislature adopt more state-based policies and fewer market-based policies. By contrast, the model of market-based, business-targeted reforms reveals that government capability plays a smaller role. Instead, these policies are driven by economic affluence, political competition, higher incomes, greater uninsurance, and more previous attempts to address the uninsurance problem. These findings reveal distinct institutional, partisan, electoral and demographic influences that shape state-based and market-based strategies. First, policy choices can be driven by the presence or absence of state capability. The domain of feasible policy choices open to states with institutional capability may be decidedly different than that available to states with fewer institutional resources. Second, while market-based policy approaches may be the most feasible politically, they may be the least successful in remedying practical uninsurance issues. These results thus reveal that institutional characteristics of states create an important foundation for policy choice and policy success or failure. These results would suggest that the national government's strategy of pursuing market-based solutions to the problem will not result in its being solved.

An Alternative Theoretical Model for Economic Reforms in Africa ...

African Journals Online (AJOL)

This paper offers an alternative model for economic reforms in Africa. It proposes that Africa can still get on the pathway of sustained economic growth if economic reforms can focus on a key variable, namely, the price of non-tradables. Prices of non-tradables are generally less in Africa than in advanced economies, and the ...

The regulation of market manipulation in Australia: a historical ...

African Journals Online (AJOL)

Notably, in Australia, market abuse practices like market manipulation and other market misconduct practices are expressly prohibited under the Corporations Act as amended by the Financial Services Reform Act. In the light of this, and for the purposes of this article, a brief historical analysis of the market manipulation ...

Impacts on investments, and transmission/distribution loss through power sector reforms

International Nuclear Information System (INIS)

Nagayama, Hiroaki

2010-01-01

This study analyses original panel data from 86 countries between 1985 and 2006. Econometric methods were used to identify the effects of different policy devices of power sector reforms on performance indicators (installed capacity per capita, transmission and distribution loss) in the countries analyzed. The research findings suggest that reform variables such as the entry of independent power producers (IPPs), unbundling of generation and transmission, establishment of regulatory agencies, and the introduction of a wholesale spot market are the driving forces of increasing generation capacity, as well as reducing transmission and distribution loss in the respective regions. In this study, we can assume that, firstly, different electric industry's reform policies/measures have different impacts on geographically and economically diverse countries. Secondly, a country's state of economic development has a different impact on policy effects of reforms. Thirdly, coexistent with independent regulatory agencies, reform policy becomes more powerful in realizing sector performances.

Market-oriented institutions and policies and economic growth : A critical survey

NARCIS (Netherlands)

De Haan, J; Lundstrom, S; Sturm, JE

This paper surveys recent evidence suggesting that market-oriented institutions and policies are strongly related to economic growth, focusing on studies using the economic freedom (EF) indicator of the Fraser Institute. This index is critically discussed. Also various serious shortcomings of

The telecommunications industry and economic growth: how the market structure matters

Czech Academy of Sciences Publication Activity Database

Jerbashian, Vahagn

2015-01-01

Roč. 51, December (2015), s. 515-523 ISSN 0264-9993 Grant - others:UK(CZ) GAUK 79310 Institutional support: PRVOUK-P23 Keywords : telecommunications industry * market structure * economic growth Subject RIV: AH - Economic s Impact factor: 0.997, year: 2015

Optimal green tax reforms yielding double dividend

International Nuclear Information System (INIS)

Fernandez, Esther; Perez, Rafaela; Ruiz, Jesus

2011-01-01

In an stylized endogenous growth economy with a negative externality created by CO2 emissions and in which abatement activities are made by private firms, we find a wide range of dynamically feasible green tax reforms yielding the double dividend without any need to assume a complex production structure or tax system, or a variety of externalities in production. As a remarkable finding, we obtain certain scenarios in which increasing the emissions tax up to the Pigouvian level and removing completely the income tax is dynamically feasible and, also, it is the second-best reform. Hence, as a difference to previous literature, in these scenarios the first-best tax mix is implementable, allowing for the elimination of both environmental and non-environmental inefficiencies. Our result arises because of the consideration of public debt issuing and the management of the government budget balance with an intertemporal perspective. The result is obtained for an intermediate range of environmental bearing in preferences, the valid range being contingent on the pre-existing income tax rate. The type of tax reform that we propose could also be implemented for different energy taxes. - Highlights: → We use an endogenous growth model with a negative externality from CO2 emissions. → Abatement activities are made by private firms to reduce payment of emissions taxes. → We find dynamically feasible green tax reforms yielding the double dividend result. → Our result arises thanks to the inclusion of public debt issuing as a financing device. → The type of tax reform proposed can be implemented for other energy taxes.

Security and labour market flexibility: an alternative view from Denmark

OpenAIRE

Refslund, Bjarke; Rasmussen, Stine; Sørensen, Ole H.

2017-01-01

In the face of the economic and financial crisis, several European countries haveimplemented a number of structural reforms to increase employment and the flexibility of the labour market, in particular by reducing employment protection in an effort to deregulate labour markets. Reform proponents believe that a reduction of the gap between the protection of regular and non-standard contracts will decrease the alleged disincentives to offer permanent contracts, which should then lead to an inc...

Deposit insurance reform; or, deregulation is the cart, not the horse

OpenAIRE

John H. Kareken

1990-01-01

This paper, originally published in the spring 1983 Quarterly Review, explains why flat-rate deposit insurance gives financial intermediaries an incentive to take on too much risk. It also discusses the purposes of deposit insurance and some ways reforms might serve those purposes. Three possible reforms are discussed: abolishing the insurance and requiring depository institutions to either hold safe assets or mark to market, reducing the deposit ceilings for insurance, and risk-adjusting the...

Restructuring in the Electricity Markets and Structural Transformation in Turkish Electricity Market

Directory of Open Access Journals (Sweden)

Hakan ÇETİNTAŞ

2015-07-01

Full Text Available Electricity markets are changed over from monopolistic to competitive structure. In many countries liberalization process in electricity markets began after 1980. In this study models for restructuring the electricity markets are explained with the natural monopoly and its regulation which is discussed in economic theory over many years. Then structural transformation in Turkish Electricity Market is explained within the legal arrangament framework and in liberalization process of electricity markets current state of Turkey is evaluated. In Turkey, the reform process in electricity market began with the liberalization of production and ıt is contiuned to change the design of the wholesale market. There has been significant progress for energy exchange by the establishment of EPİAŞ with the Electricity Market Law Numbered 6446 in 2013.

Growth strategies of electric utilities in context of deregulation and liberalization of electricity market

Directory of Open Access Journals (Sweden)

Maria Đogić

2017-01-01

Full Text Available This paper identifies the growth strategies adopted by the electric utilities sector in the context of changes resulting from the deregulation and liberalization of the electricity market. Strategies pursued by the electric utilities sector were rarely the subject of research in the field of strategic management despite the fact that electricity is an indispensable element of everyday life and the economy as a whole. Therefore, a case study of the largest incumbent electric utilities in the Republic of Croatia, Slovenia, Bosnia and Herzegovina, Serbia, Montenegro, and Macedonia has been conducted, and differences in the degree of market liberalization and core features of these companies have been noted. Research findings have shown that the degree of deregulation can affect the growth strategies of electric utilities. In those countries where the degree of deregulation is lower, electric utilities focus on the domestic market. On the other hand, a higher level of deregulation enables electric utilities to achieve their growth through diversification or innovation. Given the fact that the analyzed electric utilities are operating within relatively small economies, they cannot compete with electric utilities in developed countries, and, apart from international electricity trading, are mostly focused on their domestic markets.

Financial performance after the Spanish banking reforms: A comparative study of 19 commercial banks

Directory of Open Access Journals (Sweden)

Pison F. Irene

2014-06-01

Full Text Available A diagnostic review of the Spanish financial system during the 2008 financial crisis reveals the emergency need for banking reform in the sector. In an attempt to evaluate the impact of the Spanish reform, the present study examines the bank´s performance before/after the reform was adopted, using data of 19 Spanish commercial banks extracted from the Global Vantage research database (Standard and Poor’s over the period 2006 to 2013. This study uses multivariable regression method to investigate the impact of the CAMELS rating system: capital adequacy, asset quality, management quality, liquidity and sensitivity to market risks on the bank´s performance such as earnings efficiency. The time-line of the study is essential because it helps us to determine the financial performance of Spanish commercial banks before the banking reforms during the financial crisis and an important set in terms of mergers and acquisition in the banking industry. The empirical results have found strong and positive evidence that Capital Adequacy, Management Capacity, Liquidity and Sensitivity to Market Risk are useful predictors of banks performance (earnings efficiency, thus, any reform pilot toward this banking indicators will eventually have a positive impact on banking performance. Base on the present study, the Spanish reform was so vital for better banking performance. Therefore, this study serves not only to academics but also to policy makers

EVIDENCE FROM CEREALS MARKET

African Journals Online (AJOL)

Win7Ent

2013-06-03

Jun 3, 2013 ... These market reforms resulted in more variable food prices because .... staple foods and the impact of seasonal price fluctuations on nutrient consumption; which are issues ..... elderly) in low-income households. Gathering ...

Market concentration and technological innovation in a dynamic model of growth and distribution

Directory of Open Access Journals (Sweden)

Gilberto Tadeu Lima

2000-12-01

Full Text Available This paper develops a post Keynesian macromodel of growth and distribution in which endogenous technological innovation plays a pivotal role. The innovationrate is made quadratic in market concentration, to capture a plausible neo-Schumpeterian non-linear influence of market structure on firms' propensity to innovate. Concentration is endogenous, though, since under neo-Schumpeterian competition the relation between market structure and technical change cuts both ways. Investment will then be non-linear in concentration, and the effect of changes in concentration on capacity utilisation, growth and distribution will depend on the level of concentration. Demand also plays a role, with capacity utilisation andgrowth rising with the wage share. The dynamic stability properties of the system will depend on the direction and relative strength of the technological innovation effects with respect to the demand ones, and on the relative bargaining power of workers and capitalists.

The modes of influence of oil on gas markets - The economy

International Nuclear Information System (INIS)

Maisonnier, Guy

2016-01-01

This article first indicates how the oil price has influence on some gas markets in the USA, in the UK and in the Asia-Pacific region. The author then focuses on this last region, notably Japan where the LNG market was strongly impacted by the oil price. Many Asian actors now want to reform the gas market in order to avoid such a strong influence. The author discusses the consequences of the development of shale gas exploitation in the USA, not only on the US domestic market, but also on Europe and Asia. In Europe, two types of prices are still coexisting: indexed and spot prices. Indexed prices might be reached in periods of tension on the market (during a cold winter), but the trend is globally oriented downwards. It seems that spot prices tend to converge toward indexed prices, at least in winter. Thus, despite the existence of indexed contracts, the influence of oil price is slowly decreasing. Finally, the author outlines upheavals experienced by the gas market since 2009 due to economic growth, development of shale gas, change of contract models, level of LNG supply, CO 2 price, increasing share of renewable energies

Federal-Provincial Business Tax Reforms: A Growth Agenda with Competitive Rates and a Neutral Treatment of Business Activities

Directory of Open Access Journals (Sweden)

Duanjie Chen

2011-01-01

Full Text Available As the federal and provincial governments look to create jobs and attract business investment, productivity-enhanced business tax structures are in high order. Tax structures that combine internationally competitive tax rates on neutral tax bases foster long-term economic growth and generate sustainable tax revenue. This report examines tax policy in Canada over the past few years, specifically its impact on capital investment, labour and the cost of doing business across provinces and industries. Suggestions for tax reform are provided.

Foreign labor and regional labor markets: aggregate and disaggregate impact on growth and wages in Danish regions

DEFF Research Database (Denmark)

Schmidt, Torben Dall; Jensen, Peter Sandholt

2013-01-01

non-negative effects on the job opportunities for Danish workers in regional labor markets, whereas the evidence of a regional wage growth effect is mixed. We also present disaggregated results focusing on regional heterogeneity of business structures, skill levels and backgrounds of foreign labor....... The results are interpreted within a specific Danish labor market context and the associated regional outcomes. This adds to previous findings and emphasizes the importance of labor market institutions for the effect of foreign labor on regional employment growth....

Leveraging Fuel Subsidy Reform for Transition in Yemen

OpenAIRE

Clemens Breisinger; Wilfried Engelke; Olivier Ecker

2012-01-01

Yemen is currently undergoing a major political transition, yet many economic challenges—including fuel subsidy reform—remain highly relevant. To inform the transition process with respect to a potential subsidy reform, we use a dynamic computable general equilibrium and microsimulation model for Yemen; we show that overall growth effects of subsidy reduction are positive in general, but poverty can increase or decrease depending on reform design. A promising strategy for ...

Land Reform and Rural Households in the Northern Uplands of Vietnam

Directory of Open Access Journals (Sweden)

Nguyen TRUNG THANH

2008-01-01

Full Text Available This paper is the abstract of my doctoral dissertation entitled “The Impactof Land Reform on Rural Households in the Northern Uplands of Vietnam” at theJustus Liebig University of Giessen, Germany under the supervision of Prof. Dr.Siegfried Bauer. The study examined the impact of the recent land reform inVietnam on the economy of rural households in the Northern Uplands of Vietnam.It was found that the land reform has positive impact on three important aspects ofrural household’s economy, namely crop production, land market participation, andafforestation. However, further improvement in terms of private land rights isneeded for a more sustainable development in the region.

Institutional determinants of power sector reform in Pakistan

International Nuclear Information System (INIS)

Ullah, Kafait; Arentsen, Maarten J.; Lovett, Jon C.

2017-01-01

The electricity supply sector in Pakistan has performed poorly in recent years. Reforms were introduced in the mid-1990s to improve the sector, but progressed slowly with no significant impacts on pre-reform performance. This study uses new institutional economics as a theoretical basis to elucidate reasons for the failure of power sector reforms in Pakistan to make improvements. Interviews with 23 experts using Q-methodology generated 215 statements that were used as a Q concourse. Of these, 51 statements were selected for the Q sample and ranked by 34 respondents depending on their importance. Analysis revealed four important discourses on the determinants of power sector reform failure in Pakistan. These included weak governance structure, country and sectoral endowments, inefficient regulator and unspecified political institutions or unfriendly political contexts. The study recommends establishment of institutions that support a market based power supply sector and improvements to the contractual arrangements between stakeholders to reduce opportunistic behaviour. - Highlights: • This study utilizes New Institutional Approach to study power sector reforms in Pakistan. • Work of Douglass North and Oliver Williamson help create analytical frame. • Q methodology helps overcome data limitations. • Results reveal institutional aspects as important for poor performance of reforms. • Study suggests policy recommendations to improve institutional environment and governance of power sector in Pakistan.

The telecommunications industry and economic growth: how the market structure matters

Czech Academy of Sciences Publication Activity Database

Jerbashian, Vahagn

2011-01-01

Roč. 3, č. 42 (2011), s. 1-68 ISSN N R&D Projects: GA MŠk LC542 Grant - others:UK(CZ) GAUK 79310 Institutional research plan: CEZ:MSM0021620846 Keywords : telecommunication industry * market structure * economic growth Subject RIV: AH - Economic s

Solar central receiver reformer system for ammonia plants

Science.gov (United States)

1980-07-01

Details of the conceptual design, economic analysis, and development plan for a solar central receiver system for retrofitting the Valley Nitrogen Producers, Inc., El Centro, California 600 ST/SD Ammonia Plant are presented. The retrofit system consists of a solar central receiver reformer (SCRR) operating in parallel with the existing fossil fired reformer. Steam and hydrocarbon react in the catalyst filled tubes of the inner cavity receiver to form a hydrogen rich mixture which is the syngas feed for the ammonia production. The SCRR system displaces natural gas presently used in the fossil reformer combustion chamber. The solar reformer retrofit system characteristics and its interface with the existing plant are simple, incorporating state of the art components with proven technology. A northfield composed of one thousand forty second generation heliostats provides solar energy to the receiver which is positioned on top of a 90 meter high steel tower. The overall economics of this system can provide over 20% discount cash flow rate of return with proper investment and market conditions.

Resisting market-inspired reform in healthcare: the role of professional subcultures in medicine.

Science.gov (United States)

Martinussen, Pål Erling; Magnussen, Jon

2011-07-01

The reorganisation efforts of the hospital sector in many Western countries in recent decades have challenged the role, identity and autonomy of medical professionals. This has led to increased focus on the role and impact of physicians who are also managers and on the unique discourse being formed through the integration of medical and managerial knowledge. Following the line of studies addressing the professional subcultures in medicine, we investigated whether assessments of health reform differ between medical doctors with managerial responsibilities and their colleagues at the clinical level as well as between those involved in direct patient care and those who are not. The analysis was performed within the context of the Norwegian hospital sector, where a major reform was implemented in 2002, and it was based on a survey of a representative sample of hospital physicians in 2006. The analysis focused on how the respondents viewed the overall effect of the reform and on the reform's effect on three central health policy goals: equity, quality and productivity. Combining data from the survey with organisational and financial data from the hospitals, we employed multilevel techniques to control for a number of individual and hospital-specific factors that could explain the physicians' views. As expected, respondents with managerial responsibilities were more positive in their evaluations of the reform, whereas respondents who spent time on direct patient-related work showed the opposite pattern. Of the hospital-specific factors of interest, the share of department managers with medical backgrounds and the economic situation positively affected the evaluations. Our findings support the view that, rather than managerialist values colonising the medical profession through a process of hybridisation, there is heterogeneity within the profession: some physician managers are adopting management values and tools, whereas others remain alienated from them. Copyright �

Private participation in China's wastewater service under the constraint of charge rate reform.

NARCIS (Netherlands)

Zhong, L.; Wang, X.; Chen, J.

2006-01-01

China is moving towards a market-based economic system, which includes the water sector. The state is emphasizing tariff reform of the water sector, which is a necessary step in the transition to a market economy, and also an important step for China's wastewater management. With the gradual

The Gendered Consequences of Unemployment Insurance Reforms

Science.gov (United States)

Mooi-Reci, Irma; Mills, Melinda

2012-01-01

This study examines whether a series of unemployment insurance benefit reforms that took place over a 20-year period in the Netherlands had a gendered effect on the duration of unemployment and labor market outcomes. Using longitudinal data from the Dutch Labor Supply Panel (OSA) over the period 1980-2000, and adopting a quasi-experimental design,…

Designing effective power sector reform: A road map for the republic of Georgia

Science.gov (United States)

Kurdgelashvili, Lado

Around the world, network utilities (i.e., electricity, natural gas, railway, telecommunications, and water supply industries) are undergoing major structural transformation. A new wave of market liberalization, together with rapid technological changes, has challenged the previously dominant monopoly organization of these industries. A global trend toward deregulation and restructuring is evident in countries at different levels of social and economic development. The challenges of transition from a monopolistic to an open market competitive structure are numerous. Understanding these problems and finding solutions are essential to successful restructuring. In developing countries and economies in transition (i.e., the Eastern Europe and the former Soviet Union), government-owned utilities are often considered to be highly inefficient. The dominant power sector restructuring strategies seek to promote economic efficiency through a gradual introduction of competition into the power sector. Five components of power sector reform are commonly proposed by the World Bank and others for these countries: commercialization, privatization, establishment of an independent regulatory agency, unbundling and gradual introduction of competition in generation and retail markets. The Republic of Georgia, like many economies in transition (e.g., Hungary, Ukraine, and Kazakhstan) has followed this reform model. However, outcomes of the reform have not been as promised. The acute economic problems facing Georgia after it regained independence have compounded problems in the power sector. A review of Georgia's utility reforms reveals that the country has undertaken electricity industry restructuring without giving substantial consideration to the problems that these reforms might have created within the industry or society. The main task of this dissertation is to find the restructuring model, which can best serve economic, social and environmental goals under circumstances similar

Global impact of uncertainties in China’s gas market

International Nuclear Information System (INIS)

Xunpeng, Shi; Variam, Hari Malamakkavu Padinjare; Tao, Jacqueline

2017-01-01

This paper examines the uncertainties in Chinese gas markets, analyze the reasons and quantify their impact on the world gas market. A literature review found significant variability among the outlooks on China's gas sector. Further assessment found that uncertainties in economic growth, structural change in markets, environmental regulations, price and institutional changes contribute to the uncertainties. The analysis of China’s demand and supply uncertainties with a world gas-trading model found significant changes in global production, trade patterns and spot prices, with pipeline exporters being most affected. China's domestic production and pipeline imports from Central Asia are the major buffers that can offset much of the uncertainties. The study finds an asymmetric phenomenon. Pipeline imports are responding to China's uncertainties in both low and high demand scenarios while LNG imports are only responding to high demand scenario. The major reasons are higher TOP levels and the current practice of import only up to the minimum TOP levels for LNG, as well as a lack of liberalized gas markets. The study shows that it is necessary to create LNG markets that can respond to market dynamics, through either a reduction of TOP levels or change of pricing mechanisms to hub indexation. - Highlights: • Economic growth, regulations, reforms and shale gas cause the uncertainties. • Pipeline exporters to China and Southeast Asian and Australian LNG exporters affected the most. • China’s domestic production and pipe imports offset much of the uncertainties. • Pipeline imports are responding to China’s uncertainties in both low and high demand. • LNG imports are only responding to high demand scenario.

РOLICY OF INSURANCE PROTECTION AND STRATEGY OF ITS REFORM IN UKRAINE

Directory of Open Access Journals (Sweden)

A. Zaletov

2015-04-01

Full Text Available The article deals with the essence of the role and tasks of the insurance policy in modern conditions. Insurance is defined as a system of policy measures authorities and business entities to use the tools of insurance and financial resources of insurers in order to effectively manage risks and ensure the implementation of the goals and objectives of socio-economic development of the country (region and business entities. Allocated to the insurance policy of the state, the corporate sector, households and insurance (reinsurance companies. The economic, social and informational categories of state regulation in the insurance industry, underlined the need to reform the insurance market taking into account the influence of external and internal threats. Define the objectives and principles of the strategy of reforming the system of state regulation of the insurance market of Ukraine. Proposed priorities for the development of the insurance market on the basis of deregulation and simplification of the regulatory environment, improvement of activity control and efficiency of state supervision, protecting the interests of insurance consumers and restore confidence in the insurance market.

Electricity reforms and firm level responses: changing ownership, fuel choices, and technology decisions

International Nuclear Information System (INIS)

Shukla, P.R.; Nag, Tirthankar; Biswas, Debashish

2005-01-01

This paper examines how electricity reforms in India managed to influence the responses of generating firms. Indian electricity reforms have federal and state character. This paper utilises an extensive survey of generation units in Gujarat State. The findings suggest that reforms have created heterogeneous ownership of generation units. The fuel-mix and technology choices of new owners differ from pre-reform pattern followed by state-owned utilities. The new owners prefer natural gas, sourced technologies internationally, and chosen unit sizes that follow market dynamics. Consequently, the operational performance of power plants has improved. This paper quantifies energy efficiency and carbon intensity baselines, projects their trends, and delineates the contribution of reforms for the state. In generalisation, this paper argues that energy and cost efficiency of power plants across different states shows secular improvements under the reforms, though it cautions that environmental performance would not show such uniformly improving trends. (Author)

The Role of the OECD and the EU in the Development of Labour Market Policy in the Czech Republic

DEFF Research Database (Denmark)

Porte, Caroline de la

2009-01-01

This article analyses the role of the OECD through its "Jobs Strategy" and the European Union (EU) through the "European Employment Strategy" in the development of macro-economic, employment and labour market policy in the Czech Republic. As a full member of the two organisations, the Czech...... Republic has been subject to their soft non-binding policy advice in the area of labour market reform. The OECD and EU policy models are similar, both insisting on growth-oriented macro-economic policy, supported by active labour market policies, an active and effective public employment service (PES......) and the de-regulation of labour markets. However, the OECD actively advocates private actor involvement in labour markets, while the EU insists on the role of the public sector. The inquisitive styles of the two organisations differ: the OECD has a decontextualised and quantified analysis of performance...

Effects of capital markets development on economic growth of Western Balkan countries

Directory of Open Access Journals (Sweden)

MSc. Artor Nuhiu

2011-12-01

Full Text Available Through this research paper we have tried to elaborate the issue whether capital market development is an alternative towards economic growth and economic prosperity of developing countries in general, the Western Balkan countries in particular. The focus of the paper is to study the effects of proper functioning of capital markets and their im-pact on increasing the level of savings, capital investments and in locating relevant resources for long-term financing of the economy. The research paper presents positive and negative arguments, linking the establishment and development of a capital market and its impact on economic development of developing countries, particularly Western Balkan countries.

Institutionalization of Markets and Issues of the Growth of Industrial Enterprises

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Zamazii Oksana V.

2015-09-01

Full Text Available The article developes and proves a scientific hypothesis that strengthening the integration processes in the market space causes its institutionalization, and thus leads to the issues of proliferation of the free market players as a result of a division of spheres of influence between the major financial-industrial groups and corporations. It has been proved that a clear hierarchical structure, along with rigid subordination of free economic agents to the chief processor of resources within the growing corporations are those preconditions, which gradually form characteristics of an organization or an institution in terms of markets. An author's own definition of the notion of «institutional market» has been proposed, which is different from the classic formulation. It is emphasized that institutionalization of market space turns the latter into an another economic system, the main characteristics of which are: limited number of buyers and sellers; presence of conglomerates with rigid hierarchical relationships between buyers and sellers; etc. Enlargement and diversification of business as well as growth of its influence not only within its own industry sector, but also in the related sectors, leads to the fact that corporations are trying to control markets (supply and demand which meantime are turning into rigid management structures, acquiring characteristics of institutions (organizations. This hinders the market entry of new market players, increases risks of business and requires on the part of enterprises new marketing techniques for positioning the own ability to create customer value.

Lessons learned from Brazilian natural gas industry reform

International Nuclear Information System (INIS)

Mathias, Melissa Cristina; Szklo, Alexandre

2007-01-01

Over the past decades many countries have reformed their infrastructure industries. Although these reforms have been broadly similar for the most part, aiming at introducing competition in potentially competitive segments, the contexts in which they have been carried out differ. This is due to the past regulatory experience in each country, the maturity of the industry and/or the number of agents when the reform process started. The Brazilian natural gas reform stands out due to the country's singular conditions. The development of the natural gas industry in Brazil was grounded on stepping up supplies through integration with neighboring nations (particularly Bolivia) and establishing a competitive environment by lowering the barriers hampering the arrival of new investors. However, natural gas is located at the crossroads of two main energy chains: oil and hydroelectricity. This article analyzes the Brazilian natural gas reform, and extracts lessons from this process. The low capillarity of transportation and distribution systems continues to be the main bottleneck of the country's natural gas industry. The challenges of the new legal framework are to encourage investments in networks and guarantee supply, to allow the industry to consolidate and mature, against a backdrop of rapid changes in the world market. (author)

Restructuring in Ontario : electricity sector reform

International Nuclear Information System (INIS)

Pospisil, S.

2004-01-01

Ontario's electricity reform strategy was outlined along with challenge facing Ontario's electricity supply and demand with particular focus on the issue of replacing coal-fired generation. According to reports by the Independent Electricity Market Operator, short-term reserve margins were higher in 2004 than they were in 2003 due to the return to service of some nuclear generating units and planned capacity additions. Ontario's long-term supply and demand situation was also examined. It was noted that lenders hesitate to finance the expansion of generation companies selling into the spot market. Many lenders are requiring that half of the project's output be sold in advance on contract. Other challenges include Ontario's aging generation infrastructure and rising energy prices. The presentation included graphs that compared electricity costs for residential and small business customers across various provinces and states. The main supply and conservation challenges revolve around the large investments required by 2020 to replace coal plants, retire nuclear plants and projected load growth. Ontario's current generation capacity is 154 TWh and the mix is represented by 40 per cent nuclear, 25 per cent coal, 25 per cent hydro, 8 per cent natural gas, 1 per cent oil, and 1 per cent biomass and other renewable energy sources. This paper also addressed the issue of coal generation and air pollution and emphasized the importance of looking at the broad externalities associated with air emissions. tabs., figs

The 2009 Health Confidence Survey: public opinion on health reform varies; strong support for insurance market reform and public plan option, mixed response to tax cap.

Science.gov (United States)

Fronstin, Paul; Helman, Ruth

2009-07-01

PUBLIC SUPPORT FOR HEALTH REFORM: Findings from the 2009 Health Confidence Survey--the 12th annual HCS--indicate that Americans have already formed strong opinions regarding various aspects of health reform, even before details have been released regarding various key factors. These issues include health insurance market reform, the availability of a public plan option, mandates on employers and individuals, subsidized coverage for the low-income population, changes to the tax treatment of job-based health benefits, and regulatory oversight of health care. These opinions may change as details surface, especially as they concern financing options. In the absence of such details, the 2009 HCS finds generally strong support for the concepts of health reform options that are currently on the table. U.S. HEALTH SYSTEM GETS POOR MARKS, BUT SO DOES A MAJOR OVERHAUL: A majority rate the nation's health care system as fair (30 percent) or poor (29 percent). Only a small minority rate it excellent (6 percent) or very good (10 percent). While 14 percent of Americans think the health care system needs a major overhaul, 51 percent agree with the statement "there are some good things about our health care system, but major changes are needed." NATIONAL HEALTH PLAN ELEMENTS RATED HIGHLY: Between 68 percent and 88 percent of Americans either strongly or somewhat support health reform ideas such as national health plans, a public plan option, guaranteed issue, expansion of Medicare and Medicaid, and employer and individual mandates. MIXED REACTION TO HEALTH BENEFITS TAX CAP: Reaction to capping the current tax exclusion of employment-based health benefits is mixed. Nearly one-half of Americans (47 percent) would switch to a lower-cost plan if the tax exclusion were capped, 38 percent would stay on their current plan and pay the additional taxes, and 9 percent don't know. CONTINUED FAITH IN EMPLOYMENT-BASED BENEFITS, BUT DOUBTS ON AFFORDABILITY: Individuals with employment

Energy markets and European Integration: The World Energy Council role

International Nuclear Information System (INIS)

Murray, J.

2002-01-01

Energy market reform brings many benefits. Central and East Europe's challenge is to establish such markets when, at list in the case of electricity, the established market economies are still wrestling with how to apply competitive principles to this market. Design challenges include the natural monopoly elements within the electricity supply chain and the fact that it is, in practical terms, as essential social service. There is no one single model suitable to all markets at all stages of development. At the same time, there is a need for sustainable energy pricing, which means prices should cover all costs, with transparent and time-limited subsidies bringing the afford ability gap. Cross-border integration extends the benefits available from market reform by overcoming constraints at the national level and by broadening the geographical limits of a market. The World Energy Council works with its Central and East European members to analyse, understand and meet these challenges. (author)

PV solar electricity industry: Market growth and perspective

International Nuclear Information System (INIS)

Hoffmann, Winfried

2006-01-01

The photovoltaic (PV) solar electricity market has shown an impressive 33% growth per year since 1997 until today with market support programs as the main driving force. The rationales for this development and the future projections towards a 100 billion | industry in the 2020s, by then only driven by serving cost-competitively customer needs are described. The PV market, likely to have reached about 600MW in the year 2003, is discussed according to its four major segments: consumer applications, remote industrial electrification, developing countries, and grid-connected systems. While in the past, consumer products and remote industrial applications used to be the main cause for turnover in PV, in recent years the driving forces are more pronounced in the grid-connected systems and by installations in developing countries. Examples illustrating the clear advantage of systems using PV over conventional systems based, e.g., on diesel generators in the rural and remote electrification sector are discussed. For the promotion of rural electrification combined with the creation of local business and employment, suitable measures are proposed in the context of the PV product value chain. The competitiveness of grid-connected systems is addressed, where electricity generating costs for PV are projected to start to compete with conventional utility peak power quite early between 2010 and 2020 if time-dependent electricity tariffs different for bulk and peak power are assumed. The most effective current-pulling force for grid-connected systems is found to be the German Renewable Energy (EEG) Feed-in Law where the customers are focusing on yield, performance, and long-life availability. The future growth in the above-defined four market segments are discussed and the importance of industry political actions in order to stimulate the markets either in grid-connected systems by feed-in tariff programs as well as for off-grid rural developing country applications by long

PV solar electricity industry: Market growth and perspective

Energy Technology Data Exchange (ETDEWEB)

Hoffmann, Winfried [RWE SCHOTT Solar GmbH, Carl-Zeiss-Str. 4, 63755 Alzenau (Germany)

2006-11-23

The photovoltaic (PV) solar electricity market has shown an impressive 33% growth per year since 1997 until today with market support programs as the main driving force. The rationales for this development and the future projections towards a 100 billion | industry in the 2020s, by then only driven by serving cost-competitively customer needs are described. The PV market, likely to have reached about 600MW in the year 2003, is discussed according to its four major segments: consumer applications, remote industrial electrification, developing countries, and grid-connected systems. While in the past, consumer products and remote industrial applications used to be the main cause for turnover in PV, in recent years the driving forces are more pronounced in the grid-connected systems and by installations in developing countries. Examples illustrating the clear advantage of systems using PV over conventional systems based, e.g., on diesel generators in the rural and remote electrification sector are discussed. For the promotion of rural electrification combined with the creation of local business and employment, suitable measures are proposed in the context of the PV product value chain. The competitiveness of grid-connected systems is addressed, where electricity generating costs for PV are projected to start to compete with conventional utility peak power quite early between 2010 and 2020 if time-dependent electricity tariffs different for bulk and peak power are assumed. The most effective current-pulling force for grid-connected systems is found to be the German Renewable Energy (EEG) Feed-in Law where the customers are focusing on yield, performance, and long-life availability. The future growth in the above-defined four market segments are discussed and the importance of industry political actions in order to stimulate the markets either in grid-connected systems by feed-in tariff programs as well as for off-grid rural developing country applications by long

DOES STOCK MARKET DEVELOPMENT PLAY ANY ROLE IN THE EFFECT OF FDI ON ECONOMIC GROWTH IN NIGERIA? AN EMPIRICAL INVESTIGATION

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Oziengbe Scott Aigheyisi

2016-09-01

Full Text Available The objective of the paper is to investigate whether stock market development plays any role in the effect of foreign direct investment (FDI on economic growth in Nigeria. Using annual time series data that span the period from 1981 to 2014, and employing the fully modified ordinary least squares (FMOLS estimation technique, the empirical evidence indicates that FDI, domestic investment and stock market development positively and significantly affect economic growth, but the effect of the interaction between stock market development and FDI on economic growth is negative and significant, indicating that the Nigerian bourse is not yet fully developed to engender positive growth effect of FDI. The study further finds that government consumption expenditure and trade openness adversely affect the growth of the country’s real GDP per capita. Recommendations of the paper include efforts by the government to design and implement programmes and policies aimed at enhancing the attractiveness of the country to foreign and local investors, efforts by capital market regulators to enhance stock market efficiency, reduction of government consumption expenditures and import control.

NHS market liberalisation and the TTIP agreement.

Science.gov (United States)

Regan, Paul; Ball, Elaine

2016-07-01

Governments over the past three decades have undermined the founding principles of the NHS through reforms and market liberalisation. With greater involvement of commercial interests in health care, the NHS will become less democratic and transparent. Recent reforms, which were intended to improve productivity, quality and cost efficiency, have left the NHS exposed to the unwieldy model of market liberalisation and the attrition of public health care. The role of community nurses has been particularly destabilised by commissioning, as their work is difficult to measure. The advent of the Transatlantic Trade and Investment Partnership could further undermine the NHS to the benefit of international commercial interests.

Technology Transfer Strategies for Creating Growth Opportunities in Frontier Markets of Sub-Saharan Africa

DEFF Research Database (Denmark)

Nielsen, Ulrik B.

In the past decade, Africa has developed from being an extremely impoverished continent with discouraging prospects to a more promising destination and home to some of the fastest growing Frontier Market economies. Approximately 75% of Africans rely on agriculture for their livelihoods, making...... to create growth opportunities in Frontier Markets of Sub-Saharan Africa....

Stock market development and economic growth of Brazil, Russia, India, China and South African (BRICS Nations: An empirical research

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Sunday Ogbeide

2018-04-01

Full Text Available BRICS connotes five main emerging national economies: Brazil, Russia, India, China and South Africa are particularly distinguished as nations experiencing expanded market opportunities and countries discovered to be at stages of newly advanced economic development. This paper assesses the stock market development and economic growth in these BRICS nations. In doing this, quarterly time series data from 1994 to 2014 was sourced from World Bank Indicators. The Panel Generalized method based on the fixed effect estimation was employed to determine how stock market development affects the economic growth of BRICS. Diagnostic tests were conducted to ascertain the robustness and stability of the regression results after carrying out the unit root calculations. The findings reveal that stock market development exerts significant impact on the economic growth. The study further reveals that there was a positive correlation between stock market development indicators and BRICS’s economic growth. It is therefore proposed that the weaknesses of each of the BRICS member countries should be taken as policy focus and strategies necessary to strengthen them should be swiftly applied by their respective governments.

The Institutional Framing of the Market Economy

DEFF Research Database (Denmark)

Howells, John

2003-01-01

A review of the significance of the intellectual tool of the technology complex for an understanding of the role of innovation in the market economy. The framing of the market economy is understood as the way that institutions of finance, education and intellectual property are reformed to aid...

Marketing Education on a Shoestring: A Model.

Science.gov (United States)

Shreeve, William; And Others

Few educators envision themselves as marketing or public relations experts, yet economic reality is forcing many academicians into these roles. Over the past four years, the Eastern Washington University Department of Education has developed a successful marketing model for educators. The model begins with a successful reform of department…

Thailand - Social and Structural Review : Beyond the Crisis - Structural Reform for Stable Growth

OpenAIRE

World Bank

2000-01-01

Following the East Asian financial crisis, the Bank's involvement in Thailand intensified, enabling a multifaceted stabilization, and structural reform dialogue, which deepened the economic, financial, and sector knowledge of the country. The study benefits from this analytical work, and provides an overview on the ongoing policy dialogue, regarding short- and medium-term reform, through a...

Composting: a growth market

International Nuclear Information System (INIS)

Bueker, D.; Guenther, H.; Komodromos, A.

1994-01-01

The paper explains the current state of affairs in composting in Germany from the angles of licensing, engineering, the number and scale of existing and projected plants, the market for compost, and the prospective market for composting plants. (orig.) [de

An Analysis of Strategic Marketing Practices of High-Growth U.S. Family Firms

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Nancy Upton

2004-10-01

Full Text Available This paper presents an analysis of strategic marketing factors of Fast Growth family firms from the United States. Data reveal that Fast Growth Family Firms (FGFFs prefer a differentiation strategy in general and are more likely to adopt an early follower strategy when marketing new products or services. We found that rely on existing products, those that are older than three years to a great extent. However, they commit almost a third of sales to new products and services revealing that the businesses are adept at finding subsequent products and services to maintain their momentum in the marketplace. Further, it seems that about a third of new products are sustaining the hyper-growth rate of these firms. In addition to finding new products and services, fast growth family businesses must pursue new customers. Although some researchers have pointed to globalization as the impetus for fast growth, others have noted that family firms avoid the global marketplace. Our sample reveals that U.S. FGFFs are most likely to gain the majority of sales within the U.S. We found international sales significantly correlated with several factors including having an outsider on the board of directors and the use of agents and brokers.

A reform strategy of the energy sector of the 12 countries of North Africa and the Eastern Mediterranean

International Nuclear Information System (INIS)

Patlitzianas, Konstantinos D.; Doukas, Haris; Kagiannas, Argyris G.; Askounis, Dimitris Th.

2006-01-01

The development of an energy reform strategy based on the market economy so as to introduce competition in the market segments is of crucial importance for provision of a stable and favourable environment for energy investments. Reform strategies have begun developing in most of the 12 Mediterranean Countries of North Africa and the Eastern Mediterranean, especially in the context of the Euro-Mediterranean Free Trade Area. Even though energy sector reforms have been initiated, they are still at an early stage in most of these countries. The majority of energy utilities remain state owned, vertically integrated monopolies. Few of these countries have established energy regulators, and where they have, these institutions have many difficulties in effective development. In addition, competition is virtually absent from the sector, and private participation has been confined to independent power plants, which tend to be introduced into unreformed sectors. The aim of this paper is to propose energy reform strategies for the reform of the sector by 2010 in terms of the development of the regional oil, gas and electricity sectors in these countries

STEP TO CIVIL SOCIETY (ON HISTORICAL ROLE OF JUDICIAL REFORM OF 1864

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Анна Дмитриевна Попова

2014-12-01

Full Text Available The article deals with the importance of the judicial reform of 1864 for the course of Alexander's modernization and analyzes the role of the judicial reforms for various aspects of life in the post-reform Russia. There is used a wide range of sources - archival materials, memoirs of contemporaries of that period, publications of periodicals. The author concludes that the judicial reform of 1864 should be considered as a significant step towards civil society. The analysis of the sources shows that the judicial reform of 1864 contributed to the increase in the protection of human rights and freedoms. The activities of new courts changed the public consciousness - in the society there was growing representation of rule of law, necessity to respect the rights and freedoms of others, to meet obligations. The judicial reform played a major role in the process of merging classes, the development of market relations. Thus, the introduction of the controversial independent public trial not only improved the justice, but was also an important step in the formation of civil society in Russia.

Down by the Riverside: A CRT Perspective on Education Reform in Two River Cities

Science.gov (United States)

Anderson, Celia Rousseau; Dixson, Adrienne D.

2016-01-01

In this article, the authors utilize core ideas from Critical Race Theory (CRT) to examine the nature of education reform in two river cities. Similar to other cases of education reform in urban districts, the reforms in the two focal cities reflect at least four characteristics in common: (1) a form of portfolio management; (2) the growth of…

The Choice of Comprehensive Reform Path of Business Administration Majors

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Chen Yijun

2015-01-01

Full Text Available Looking back on the development history of business administration majors in colleges of China, the author conducts an analysis on the distribution of colleges offering business administration majors and market demands for these graduates, according to the results of market survey. It finds that there is a large gap between market’s requirements on business administration graduates and their real abilities. Based on the principle of system dynamics, it is necessary to construct a path choosing model of comprehensive reform of busness administration majors, emphasize normal and scientific research and prediction on employers’ requirements, explore advantages and characteristics of colleges, find the orientation professionally and accurately, define the objective of cultivating undergraduates of business administration majors, reform and optimize the talent training system of business administration majors, improve the structure of teachers team, integrate experimental and training resources in colleges, and cultivate students’ abilities in practice and employment.

Structural change and agricultural diversification since China’s reforms

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Lihua Li

2017-01-01

Full Text Available Structural change is considered the major engine in fostering a country’s growth. In the agricultural sector, diversification is the commonly used development strategy to increase rural sector’s flexibility, and to respond to improving technologies and market conditions. This study examined agricultural development and transformation during China’s socio-economic reforms. In particular, it empirically investigated whether the change of China’s agricultural structure is consistent with structural change theory and observed outcomes from other countries. The degree of agricultural diversification was quantitatively measured at a regional scale using the Herfindahl index. An underdeveloped province in northwest China was studied to provide insights into the interaction among structural change, agricultural diversification, and implemented development policies. Aggregate-level analyses suggest that China’s agricultural transformation pattern is consistent with those of other developing countries. A specific provincial-level analysis shows that environmentally and economically disadvantaged regions are slower to diversify their economy than better endorsed regions.

MarketBusting: strategies for exceptional business growth.

Science.gov (United States)

McGrath, Rita Gunther; MacMillan, Ian C

2005-03-01

If company leaders were granted a single wish, it would surely be for a reliable way to create new growth businesses. Business practitioners'overwhelming interest in this subject prompted the authors to conduct a three-year study of organizational growth--specifically, to find out which growth strategies were most successful. They discovered, somewhat to their surprise, that even companies in mature industries found rich new sources of growth when they reconfigured their unit of business (what they bill customers for) or their key metrics (how they measure success). In this article, the authors outline these and other moves companies can make to redefine their profit drivers and realize low-risk growth. They offer plenty of real-world examples. For instance: CHANGING YOUR UNIT OF BUSINESS: Once a conventional printing house, Madden Communications not only prints promotional materials for customers but also manages the distribution and installation of those materials on-site. Its revenues grew from dollars 1o million in 1990 to dollars 133 million in 2004, in an industry that many had come to regard as hopelessly mature. IMPROVING YOUR KEY METRICS-PARTICULARLY PRODUCTIVITY: Lamons Gasket, with dollars 80 million in revenues, built a Web site that radically improved its customers' ability to find, order, and pay for goods. The firm's market share rose along with its customer retention rate. The authors also suggest ways to identify your unit of business and associated key metrics and recognize the obstacles to changing them; review the key customer segments you serve; assess the need for new capabilities and the potential for internal resistance to change; and communicate to internal and external constituencies the changes you wish to make in your unit of business or key metrics.

Problems Encountered during the Transition to Market Economy in Azerbaijan and Solution Attempts

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Elchin SULEYMANOV

2014-07-01

Full Text Available After re-gaining its independence on 18 October 1991, the Republic of Azerbaijan started the transformation to the market-based economy and the integration into the world economy. The country’s oil and natural gas reserves have been considered the main source for financing a range of government programs for reforms. On the one hand, these reserves had to be used effectively; on the other hand, there was a huge demand for foreign investment for extraction. To this end, Azerbaijan has signed “Contract of the Century” in 1994. Although Azerbaijan has wide oil and natural gas reserves, it has faced a number of difficulties in its transition path. This study analyzes these problems and reforms for solving them. One of the types of the problems related to the economic structure of the former Soviet Union: disruption of the economic ties between the republics resulted in a decline of production, high levels of unemployment and prices and consequently led to an economic recession in all of the republics. Another set of problems related to the lack of sufficient institutional bases to transform to the market economy. Moreover, internal conflicts between the political parties and groups for having authority as well as political chaos in the republic can be considered other serious problems during the transition period. Furthermore, Karabakh war and occupation of 20 percent of the Azerbaijani territory by the Armenian military forces had made the situation extremely complicated. Despite all of these extremes, Azerbaijan transformed to the market-based economy decidedly and even became one of the fast growing countries of the world. Even in 2013, with the GDP growth rate of 5.6 percent, Azerbaijan was a leader among growing economies. In parallel with this significant economic development, there is still a need for some socio-economic and institutional reforms in order to get a well-functioning market-based economy in Azerbaijan.

Hybrid power markets in Africa: Generation planning, procurement and contracting challenges

International Nuclear Information System (INIS)

Malgas, Isaac; Eberhard, Anton

2011-01-01

African power sectors are generally characterised by insufficient generation capacity. Reforms to address poor performances in the 1990s followed a prescribed evolution towards power markets that would allow wholesale competition amongst generators and so lead towards efficiency improvements. Despite reforms being embarked, competitive power markets have not been established in Africa; rather, the result has been the emergence of hybrid markets where state-owned generators and IPPs operate devoid of competition; and although IPPs have emerged in a number of African power sectors, many countries still do not have sufficient generation to meet their electricity demands. This paper investigates the development of private generation power projects in Africa by analysing data collected from both primary and secondary sources in four case studies of power sectors in Ghana, Cote d'Ivoire, Morocco and Tunisia. It identifies how planning and procurement challenges have lead to difficulties in adding sufficient generation capacity in a timely manner, exacerbating the problem of insufficient generation capacity in Africa. It provides suggestions as to how these frameworks could respond more effectively to the capacity challenges faced by hybrid electricity generation markets, and how broader power sector reforms should be guided to reflect the challenges of hybrid markets better. - Research highlights: → The standard model of power sector reform should no longer be used as a progress measure of power sector development in Africa and many other developing countries. → The hybrid market should in itself be recognised as an established 'model' of power sectors in Africa and many developing countries. → Planning, procurement and contracting arrangements should be shaped specifically for hybrid markets in order to address the problem of insufficient generation capacity in developing countries.

Labour market institutions in small Pacific island countries: Main guidelines for labour market reforms

OpenAIRE

Malo, Miguel Á.

2017-01-01

This report consists of a comprehensive overview of labour market institutions in the small Pacific island countries in order to propose recommendations to improve the performance of their labour markets. We pay particular attention to three countries: Fiji, Palau and Papua New Guinea. We focus on the main pillars of labour market institutions, as employment protection legislation, minimum wage, and labour organization. The analysis considers the possibilities for institutional change in the ...

An Empirical Analysis of the Effect of Stock Market Crisis on Economic Growth: The Nigerian Case

Directory of Open Access Journals (Sweden)

Omowunmi Felicia Olokoyo

2011-08-01

Full Text Available Stock market crashes are social phenomena where external economic events combine with crowd behavior and psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. This study empirically established the relationship between stock market crisis and Nigeria’s economic growth and also showed the relationship between stock market price crash and the crisis itself. In this light, this paper examined the interactive influence of movements in the major indicators of the performance of the Nigerian Stock Exchange Market such as the Market Capitalization (MK, All Share Index (ASI, Number of Deals (NOD, Volume and Value of Stock (VV, Total Number of New Issues (TNI and Inflation (INFR on the Nigerian Gross Domestic Product (GDP using data from 1985-2009. To achieve the two objectives stated above, the Ordinary Least Square (OLS method was employed. To correct for the OLS result biasness the log was applied to GDP and MK and also AR(1 was introduced to the first model. The result shows that stock market crisis has a highly significant effect on Nigeria’s economic growth. The result also shows a significant relationship between stock market price crash and the market crisis itself. It is therefore recommended that in the face of the ongoing crisis in the global stock market, the Nigerian stock market authorities should aim at making the market meet a world class standard. Also, all the sectors of the economy should act in a collaborative manner such that optimum benefits can be realized from their economic activities in the Nigeria market even in the hub of global crisis.

Designing HIGH-COST medicine: hospital surveys, health planning, and the paradox of progressive reform.

Science.gov (United States)

Perkins, Barbara Bridgman

2010-02-01

Inspired by social medicine, some progressive US health reforms have paradoxically reinforced a business model of high-cost medical delivery that does not match social needs. In analyzing the financial status of their areas' hospitals, for example, city-wide hospital surveys of the 1910s through 1930s sought to direct capital investments and, in so doing, control competition and markets. The 2 national health planning programs that ran from the mid-1960s to the mid-1980s continued similar strategies of economic organization and management, as did the so-called market reforms that followed. Consequently, these reforms promoted large, extremely specialized, capital-intensive institutions and systems at the expense of less complex (and less costly) primary and chronic care. The current capital crisis may expose the lack of sustainability of such a model and open up new ideas and new ways to build health care designed to meet people's health needs.

Point-of-care diagnostics: market trends and growth drivers.

Science.gov (United States)

Rajan, Aruna; Glorikian, Harry

2009-01-01

There is a significant demand for in vitro diagnostic (IVD) testing to move closer to the patient point-of-care diagnostics [POC]), whether in the hospital, physician's office, rapid clinic or the home, effectively cutting time to results and helping patients make better informed decisions about their health. To analyze the point-of-care market and its trends and growth drivers. In 2007, POC made up 30% of the IVD market and is expected to grow at 9% a year. Although the overall POC market is expected to grow steadily, infectious POC is now the most attractive segment. Availability of rapid random access molecular diagnostic system for critical care infectious diseases such as MRSA and sepsis in the near future is likely to be a significant driver of infectious POC post 2012. Owing to the extraordinary increase in the cost of care, healthcare delivery is moving to increasingly decentralized settings such as rapid clinics and the home, driven by point-of-care diagnostics that provide accurate and directional results. We are evolving from the analog testing world to the digital testing world, where diagnosis is exact and therapy can be administered and be predictably effective.

For or against gender equality? Evaluating the post-cold war 'Rule of Law' reforms in Sub-Saharan Africa

OpenAIRE

Nyamu-Musembi, Celestine

2005-01-01

The central question explored in this paper is: has the post-Cold-War rule of law (ROL) reform agenda in sub-Saharan Africa enhanced or impeded gender equality? Rule of law (ROL) reforms are seen as indispensable to establishing a market economy and democratic rule, the two prongs of the neo-liberal project. In sub-Saharan Africa, legal and institutional reforms that originated with the 'second wave' of political reform in the immediate post-Cold-War era have been justified in terms of these ...

Regulations and policies that limit the growth of the U.S. Great Lakes cruising market.

Science.gov (United States)

2011-10-01

The worldwide cruise industry has seen remarkable growth since the 1990s. The cruise market on the Great Lakes has lagged the worldwide growth and compared to historical records, has fallen far short of its full potential. This paper reviews the hist...

Energy consumption and economic growth: The case of oil exporting countries

International Nuclear Information System (INIS)

Mehrara, Mohsen

2007-01-01

This paper examines the causal relationship between the per capita energy consumption and the per capita GDP in a panel of 11 selected oil exporting countries by using panel unit-root tests and panel cointegration analysis. The results show a unidirectional strong causality from economic growth to energy consumption for the oil exporting countries. The findings have practical policy implications for decision makers in the area of macroeconomic planning. In most major oil exporting countries, government policies keep domestic prices bellow free market level, resulting in high levels of domestic energy consumption. The results imply that the energy conservation through reforming energy price policies has no damaging repercussions on economic growth for this group of countries. (author)

All projects related to tanzania | Page 7 | IDRC - International ...

International Development Research Centre (IDRC) Digital Library (Canada)

Poverty reduction through growth is the idea behind the market-oriented reforms that Tanzania ... GROWTH, ECONOMIC BEHAVIOUR, MICROECONOMICS, Poverty alleviation ... Donor organizations increasingly support the idea that civil society ... the growth of private health care as a key element of health sector reform.

Inclusive Businesses and Land Reform: Corporatization or Transformation?

Directory of Open Access Journals (Sweden)

Wytske O. Chamberlain

2018-01-01

Full Text Available Inclusive businesses (IBs, embodying partnerships between commercial agribusinesses and smallholder farmers/low-income communities, are considered to contribute towards rural development and agricultural sector transformation. Structured as complex organizational set-ups consisting of, and overcoming the limitations of, standard inclusive instruments (collective organization, mentorship, supply contract, lease/management contract and equity, they allow for the inclusion of smallholders and low-income communities into commercial agricultural value chains. IBs are a way for governments to engage private agribusinesses in agricultural and rural policies. However, will the commercial sector, through IB partnerships, contribute towards the government’s transformation and developmental objectives? Based on case studies in South Africa—a country engaged in land and agrarian reforms—the effects of IBs at the project level appear positive, illustrated by an increase in production and growth in agricultural assets. However, individual beneficiaries experience only a marginal change in income and livelihoods. Whereas land reform, project development and market integration are generally achieved, the transformation and beneficiary development objectives are compromised. Although commercial agribusinesses contribute to investment needs in the sector and smallholder exposure to commercial markets, IB partnerships allow commercial entities control over the smallholders’ assets. Ownership and secure rights, especially of land, and support of external parties to capacitate beneficiaries and adjust power asymmetries, are essential starting points. Without these aspects, IBs will not lead to effective transformation and development.

China's Banking: How Reforms Lost Momentum

OpenAIRE

Leo F. Goodstadt

2014-01-01

This paper investigates China's pattern of decade-plus delays in implementing banking reforms. It identifies the ideological factors involved, particularly the persistent suspicion of 'market forces' as the economy's driving force. The dependence on the banks to finance the economic and social costs of the retreat from state planning is traced, together with the costs to the banks of funding such urgent national programmes as the 2008 economic stimulus package and the current affordable housi...