Search results for "Dependence"

New Evidence of the Real Interest Rate Parity for OECD Countries Using Panel Unit Root Tests with Breaks

2006

This paper tests for real interest parity (RIRP) among the nineteen major OECD countries over the period 1978:Q2-1998:Q4. The econometric methods applied consist of combining the use of several unit root or stationarity tests designed for panels valid under cross-section dependence and presence of multiple structural breaks. Our results strongly support the fulfillment of the weak version of the RIRP for the studied period once dependence and structural breaks are accounted for.

Humanities and Social Sciences. Latvia: Vol. 27, N 1 (Spring-Summer 2019)

2019

The Development of Democracy and Local Governance in Latvia

2006

The traditions of autonomous local governments in Latvia between the two world wars were interrupted in the Soviet period. The local council elections held in December 1989 were the first democratic elections in the postwar period. The elections were competitive, with more than one candidate running for each — post, and a majority system was implemented. Local government laws were passed in February 1990 when the Supreme Council of the Latvian SSR government adopted three separate laws on district, city and rural local governments. A short time before the re-establishment of the independent Republic of Latvia — a process in which the local governments played a great role (before Parliament …

Is fiscal fatigue a threat to consolidation programmes?

2015

Building on a narrative approach to identify episodes of fiscal consolidation, data for a group of 17 industrial countries over the period 1978-2009 and continuous-time duration models, we find evidence suggesting that the likelihood of a fiscal consolidation ending increases over time, but only for programs that last less than six years. Additionally, fiscal consolidations tend to last longer in non-European than in European countries. Our results emphasize that chronic fiscal imbalances might lead to a vicious austerity cycle, while discipline in the behaviour of fiscal authorities is a means of achieving credible and shorter adjustment measures. Therefore, fiscal fatigue is likely to com…

After the fall of the soviet union: the changing status of local governments in the republic of latvia

1999

When the Republic of Latvia gained its independence from the Soviet Union in 1991, one of Latvia's first priorities was to rebuild its system of local government. This article describes many of the problems local governments in Latvia faced after 50 years of communist rule. The article also discusses the new Latvian laws which changed the structure of local government in that country. Also discussed are Latvian central government institutions which impacted on local governments in general and local government finances in particular. The unique status of the Capitol City of Riga, Latvia's largest municipality is also reviewed in detail.

From political controversy to a technical problem? Fifteen years of opioid substitution treatment in Finland

2013

Abstract Background The aim of the article is to analyze changes in opioid substitution treatments (OST) in Finland. OST spread in Finland in the late 1990s and early 2000s (Phase 1). Since then, OST has become an integrated part of Finnish drug policy and is provided in various substance abuse treatment units as well as in municipal health centers (Phase 2). Methods The paper analyses the policy around the implementation of opioid substitution treatment in Finland, focusing on identifying the key factors and the relations between them that have contributed to the implementation of OST in Finland. Results OST has become accepted in Finland during the past ten years as a crucial element of a…

Tourism Development in Riga: Resident Attitudes Toward Tourism

2017

This study analyses tourism development in Riga, the capital of Latvia. Riga is a tourist destination that was relatively unknown during the Soviet regime and is now becoming a popular international destination. The study reveals key tourism development trends as well as those features of the city that have highlighted the impact of the global economic crisis and the recovery since the country regained its independence. The goal of this research was to analyse the attitudes of local residents towards tourism including their perception of the impact of tourism in terms of how it has developed. In addition to drawing conclusions from collected data, this study has compared current results to …

The Challenges Faced by Life Insurance Companies in the Baltic States

2020

The Baltic life insurance market is a young steadily growing market. It began its development in the early 1990s when all three Baltic States, specifically Estonia, Latvia and Lithuania, have regained their independence. The Baltic life insurance market is limited due to a relatively small size with approximately six million inhabitants in all three countries. Additionally, the operations have deteriorated due to the low interest rates and the negative fluctuations in the financial market. The lessons learnt by the life insurers in the Baltic States are useful to other small countries in the European Union (EU) as well as to the larger States, to help bring to light the challenges of those …

Boards of directors: composition and effects on the performance of the firm

2018

This paper analyses the structure of boards of directors and its impact on business performance, which is approximated by economic profitability and the Tobin’s Q ratio. We focus on three basic aspects of boards that have been reviewed in the recent reform of the Good Governance Code: the size of boards, their independence and their diversity. For the study of diversity, we use an index that integrates not only the gender of board members, but also their age and nationality, since these are factors that can influence the knowledge, experience and skills of the directors. The results confirm a high degree of compliance with the recommendations of the Good Governance Code, and suggest that th…

Nonaudit services provided by incumbent auditors and earnings management: Evidence of auditor independence from an EU country

2011

ABSTRACTThis paper examines whether the joint provision of audit and non-audit services undermines auditor independence by testing for an association between the provision of consulting services and auditor independence measured by discretionary accruals. For the most part, previous literature has studied the issue in countries with an Anglo-American business environment. This study analyzes the possible impairment of auditor independence in the context of a continental European Union country (Spain). A cross-sectional regression is estimated to test the relationship between non-audit fees and reporting quality. Based on publicly available information for Spanish listed companies, the evide…