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showing 10 items of 8586 documents
Higher education and prosperity: from catholic missionaries to luminosity in India
2017
The article of record as published may be found at http://dx.doi.org/10.1111/ecoj.12551 This article estimates the impact of completed higher education on economic prosperity across Indian districts. To address the endogeneity of higher education, we use the location of Catholic missionaries circa 1911 as an instrument. Catholics constitute a very small share of the population in India and their influence beyond higher education has been limited. Our instrumental variable results find a positive effect of higher education on development, as measured by light density. The results are robust to alternative measures of development, and are not driven by lower levels of schooling or other chann…
Demographic structure and the security of property rights: The role of development and democracy
2013
Abstract It is often argued that countries with a high population share of children and young workers should attract large capital inflows from aging industrialized economies. However, many of these countries deter foreign investors by a high risk of creeping or outright expropriation. In this paper we explore whether the correlation between countries' demographic structure and the perceived security of property rights reflects a causal relationship. We show that, in low-income countries, the ratio of young to old workers has a positive effect on the perceived security of property rights if the political system is sufficiently democratic. By contrast, this relationship cannot be observed in…
The scarcity of worker cooperatives in the USA: enquiring into possible causes
2018
Even though the access of workers to capital has been promoted in some countries for over centuries, Governments and public bodies have started to promote it worldwide, as in previous occasions, more particularly as an aftermath of the Great Recession, usually in the form of worker cooperatives.However, workers’ access to capital in the USA in the form of worker cooperatives is still surprisingly rare. We cannot find any recent public policies at a federal level in order to promote them and the old ones that exist remain mostly obsolete and unknown. Only at a state and local level, we find in the latest years a series of actions directed to achieve this goal, as in the case of New York City…
More skilled, better paid : labour-market returns to postsecondary vocational education
2017
Outside the USA, relatively little is known about the labour-market returns to postsecondary vocational (or polytechnic) education. Yet, polytechnics in Europe are distinct from US community colleges. This paper focuses on the labour-market returns to polytechnic attendance in Finland, where polytechnics are representative of many European countries. Using matching methods and longitudinal administrative data, we find that, compared to individuals with no postsecondary education, students who attend polytechnics have higher annual earnings of €3,300 to €3,700 and employment gains of 2.5 to 6.6 percentage points 10 years after the entry decision. However, the returns vary by personal charact…
The Influence of the Endogenous and Exogenous Factors on Credit Institutions’ Return on Equity
2015
Abstract The research’s purpose is to study the credit institutions’ performance, from the shareholders’ point of view, through return on equity (ROE). It aims to identify a dependency relationship between return on equity (ROE) and endogenous factors (the growth rate of credit portfolio, the growth rate provisions, the solvency ratio), on the one hand and, on the other hand between ROE and the exogenous ones (GDP and inflation rate). The research was done over an horizon of 10 years (2004-2013) on the evolution of the return on equity indicator of two credit institutions listed on Bucharest Stock Exchange (Carpathian Commercial Bank SA and Banca Transilvania SA), highlights their vulnerabi…
Patents, technological inputs and spillovers among regions
2009
This paper analyses the importance of different technological inputs (R&D and human capital) and different spillovers in explaining the differences in patenting among Spanish regions in the period 1986-2003. The analysis is based on the estimation of a knowledge production function. A region¿s own R&D activities and human capital are observed to have a positive significant effect on innovation output, measured by the number of patents. R&D spillovers weighted by the distance and the volume of trade flows between regions cause positive effects on a region¿s patents. However, distance matters more than the intensity of trade flows and the R&D spillover effects between regions are bounded: spi…
Commoning of territorial heritage and tools of participated sustainability for the production and enhancement of agro-environmental public goods
2021
AbstractThe purpose of this paper is to analyze how the commoning heritage processes find application for the production of agro-environmental public goods in contexts of high socio-economic marginality and environmental vulnerability, characterized by abandonment and from the consumption of agricultural land for food use. The purpose is to understand how these processes are able to influence, at local level, the governance processes for the implementation of environmental protection strategies. The survey made it possible to verify how the commoning processes aimed at the production of agro-environmental goods generate territorial resilience, understood as a community competence able to st…
Trade imbalances within the euro area and with respect to the rest of the world
2015
Abstract Many studies have explored the determinants of current account balances in Europe. However, only in a few studies has trade balance been decomposed into intra balance, trade balance vis-a-vis the euro area, and extra balance, trade balance vis-a-vis the rest of the world. This decomposition is necessary for us to understand why some core euro area countries are acting as financial intermediaries for the periphery countries. Furthermore, the determinants of intra and extra balances might be different because nominal exchange rate cannot adjust between the EMU countries while their financial markets are highly integrated. Thus, we apply this decomposition and supplement the previous …
Economics, Science and Capitalism
2021
Various strains of heterodox economics have sought, and largely failed, to dismount orthodoxy from its dominant position. This book critiques the criticizers, explaining why heterodox economics challenges have faltered, and then presents a coherent alternative paradigm of its own. This simultaneously exposes the vacuousness of neoclassical economics, the limitations of heterodox critique and the subverting of Karl Marx’s revolutionary economic thought by his own disciples. The book draws in particular on two key intellectual traditions in making its arguments: critical realism and Marxism. From the refounding of critical realist philosophy of science in the hands of Roy Bhaskar, emphasis is…
Territorial Capital and Growth over the Great Recession: a Local Analysis for Italy"
2017
The consequences of the crisis have been mainly analyzed at national/ international levels, neglecting its differential effects on local areas. Notwithstanding the international character of the Great Recession, the different local structural features might have influenced the economic and social impact of the crisis, determining effects on the resilience and recovery chance. In this paper, we focus on the role of different territorial indicators by looking at how their relevance has changed during the recent crisis at provincial level. Our aim is threefold. First, we identify the strategic territorial elements which might be particularly relevant in ensuring a greater local absorption capa…