Suchergebnisse

AbstractWhile pro‐market economic institutions are a strong and causal predictor of economic development, such institutions are not expected to have the same impact across countries. Furthermore, there are actually a few instances where countries that enacted market‐friendly reforms had negative economic growth soon after. Examining 49 cases of large and sustained increases in economic freedom over a five year window, we find 10 cases that were followed by low/negative economic growth thereafter. We consider various potential determinants of failed reforms by comparing different measures between the successful and failed reforming countries. Our strongest evidence points to the following as plausible reasons for failed reforms: culture (high levels of power distance, low levels of individualism, and low levels of generalized trust), areas of economic freedom that countries reformed (less focus on sound monetary policy, more focus on limiting the size of government, and more variance between the five areas), and autocratic political institutions.

The paper deals with the economic assessment methodologies the strengths and weaknesses. It was found that, farm economic viability assessment differs from country to country: that is determined by differences in the natural environment, a different support policy, return on equity, labour productivity and land productivity. Methodologies rely on 23 financial ratios and 10 non-financial indicators, including 5 recurring indicators, namely Return on Equity, Expense to Income Ratio, Debt Ratio, Net Return, and Output to Economic Size Unit Ratio. After an empiric comparative analysis of economic viability assessment methodologies was conducted, their applicability by the example of Lithuanian farms was assessed, the obtained results were compared to similar results from farms in the EU states, and it was found that, there is no best methodology of the assessment of the economic viability of agricultural holdings for Lithuania. However a combination of methodologies by J. Scott and J. H. Tobraegel would result in a more efficient assessment of the economic viability of agricultural holdings.

Introduction to The General Theory of Second Best, Its Central Implications, and the Appropriate Way to Respond to It -- The Economics Profession's Responses to The General Theory of Second Best: Descriptions and Critiques -- The Concept of "the Impact of a Choice (or Natural Event) on Economic Efficiency" -- "First-Best," "Second-Best," and "Third-Best" Definitions, Elaborations, and Other Economists' Usages -- The Symbols for Various Pareto Imperfections, Private and Allocative Concepts, Categories of Resource-Uses, and Categories of Resource Allocations -- The Vocabulary and Symbols of Distortion Analysis -- Analyses of Various Step-Wise Monopoly Distortions -- The Various Non-Monopoly Step-Wise Private-Benefit, Private-Cost, and Profit Distortions -- Some Negative and Positive Implications of the TBLE Distortion-Analysis Protocol for Economic-Efficiency Prediction/Post-Diction -- The Approach That Would Be TBLE for a Government to Take to Economic-Efficiency Prediction/Post-diction—the Rest of the Story -- Conclusion.

Intro -- Acknowledgements -- Contents -- List of Figures -- List of Tables -- Introduction -- References -- Main Trends -- 1 GDP and Its Composition -- References -- 2 GDP and GDP Per Head -- References -- 3 GDP per Head and Labour Productivity -- References -- 4 Spain's Performance in Comparative Perspective -- References -- 5 GDP, Income Distribution, and Welfare -- References -- Measurement -- 6 Measuring GDP, 1850-1958: Supply Side -- 6.1 Agriculture, Forestry and Fishing -- 6.1.1 Agriculture -- The Construction of Annual Quantity and Price Indices on Reduced Information -- Gross Value Added -- 6.1.2 Forestry -- 6.1.3 Fishing -- 6.1.4 Value Added for Agriculture, Forestry and Fishing -- 6.2 Industry -- 6.2.1 Manufacturing -- 6.2.2 Extractive Industries -- 6.2.3 Utilities -- 6.2.4 Value Added for Manufacturing, Extractive Industries and Utilities -- 6.3 Construction -- 6.3.1 Residential and Commercial Construction -- 6.3.2 Non-Residential Construction -- Railways -- Roads -- Hydraulic Infrastructure and Other Public Works -- 6.3.3 Value Added in Residential and Non-Residential Construction -- 6.4 Services -- 6.4.1 Transport and Communications -- 6.4.2 Wholesale and Retail Trade -- 6.4.3 Banking and Insurance -- 6.4.4 Ownership of Dwellings -- 6.4.5 Public Administration -- 6.4.6 Education and Health -- 6.4.7 Other Services -- 6.4.8 Value Added in Services -- 6.5 Total Gross Value Added and GDP at Market Prices -- References -- 7 Measuring GDP, 1850-1958: Demand Side -- 7.1 Consumption of Goods and Services -- 7.1.1 Private Consumption -- Foodstuffs, Beverages and Tobacco -- Clothing and Other Personal Articles -- Housing Current Expenses -- Household Consumption of Durable Goods -- Hygiene and Personal Care -- Transport and Communications -- Leisure -- Education, Financial and Other Services -- 7.1.2 Public Consumption.

A study has been conducted in Riau Province in 2016 - 2018. One of the objectives of this research is to provide alternative policies for the regional government of Riau Province to encourage regional economic growth. The system of simultaneous econometric modeling is used and estimated by the method of Two Stage Least Squares and SIMNLIM method for simulation using 33 years time series data (1984 - 2016). The results showed that the alternative policy of increasing 10% tax revenue increased local revenue by 8.32% and government expenditure by 0.43%. Conversely, an increase in tax revenues has an impact on reducing public consumption by 0.10%, which in turn decreases RGDP by 0.01%. However, the decline in RGDP did not contribute to the decline in investment. The accumulated impact of the decline in consumption and the increase in private investment caused public savings to increase by a relatively small 0.03% so that the interest rate dropped 0.27%. The impact of the decline in RGDP caused the demand for money to decline by 0.04%. Keywords: tax revenue, the impact of change, regional economic growth, economic fluctuations, short term

This collection of working papers stems from a workshop on 'Current issues on EMU and EBU: A Reflection', which was organised at UM Campus Brussels on 20 May 2019 ; As is well known, the European Union (EU)'s Economic and Monetary Union (EMU) relies on an asymmetric structure introduced in the Maastricht Treaty (1992). The fully integrated Monetary Union in whose framework euro area Member States have attributed exclusive competence to the EU exists next to an Economic Union in which Member States' economic policies are merely coordinated. This imbalance became particularly visible and problematic when the 2007 economic and financial crisis broke out. The need to strengthen the coordination among Member States' economic and fiscal policies, as well as the need to introduce harmonised banking prudential rules and a European Banking Union became particularly acute at that point. The crisis required the adoption of several reforms and the creation of new instruments to save the economy of Member States in difficulty, and beyond this, to ensure the survival of the euro.