Search results for "subsidy"
showing 10 items of 68 documents
Trawling disturbance effects on the trophic ecology of two co-generic Astropectinid species
2015
Physical disturbance by trawling can have both negative and positive effects on populations of scavenging benthic organisms. In the present study the impact of fishing activity on feeding behaviour of the two Astropectinids, Astropecten bispinosus and A. irregularis , was assessed based on stomach contents analysis. The study was carried out along trawled seabed highlighting the positive response of the two facultative scavengers to carrion generated by trawl disturbance. Furthermore, there was greater food specialization in areas that were more heavily exploited by trawling. This specialisation could be linked to the availability of certain prey that results from the passage of fishing gea…
Quantifying Structural Subsidy Values for Systemically Important Financial Institutions
2013
Abstract Claimants to Systemically Important Financial Institutions (SIFIs) would receive transfers when governments are forced into bailouts. Ex ante, this bailout expectation lowers SIFIs’ daily funding costs. The funding cost advantage reflects both the structural level of the government support and the time-varying market valuation for such a support. Based on a large worldwide sample of banks, we estimate the value of the structural subsidy, by exploiting expectations of state support embedded in credit ratings and by applying the long-run average value of the rating bonus. The value of the structural subsidy was already sizable, 60 basis points (bp), as of the end-2007, before the cri…
Evaluation of investment subsidies: when is deadweight zero?
2008
In the evaluation of investment subsidies one of the critical issues concerns the assessment of deadweight, that is, the degree to which projects would have been carried out without grant assistance. With the increasing restrictions on and cuts in subsidies for investment projects in the EU countries maximisation of the impact of the public resources that remain can be achieved through their allocation for projects with minimum deadweight. This paper studies the profile of subsidised zero deadweight investment projects – projects that would be abandoned without public subsidies – in Finland. The empirical analysis is conducted using micro level data on investment projects by private sector …
Leading the way toward fuel parity in photovoltaics: The utility-scale market in Sicily, Italy
2016
The global photovoltaic (PV) market has been growing exponentially since almost twenty years. This huge demand for photovoltaic systems has been mainly driven by public subsidies in the form of a variet y of national incentive schemes. However, in Countries where successful incentive schemes have been pioneered and are now – as planned - being brought to an end, the PV market is called to the challenge of surviving without any incentive to the end user. Grid and fuel-parity represent the keystone of this emerging new phase in the history of this renewable energy technology. In this paper we present a sensitivity analysis showing that in Sicily, Italy, the Levelized Cost of Energy from utili…
Irrigated Agriculture in Spain: Diagnosis and Prescriptions for Improved Governance
2012
The objective of this paper is to diagnose the current state of irrigation in Spain in order to support government decision makers to improve the design and application of their plans for action. The analysis implemented shows that this sector faces two main challenges: the decrease in the support given by the Common Agricultural Policy (lower subsidies/incomes) and the implementation of the European Water Framework Directive (stricter environmental requirements). While the survival of extensive irrigated agriculture in inland regions depends on farmers producing different crops and modernizing production techniques, littoral regions must respond with technological innovation, especially te…
The development of Finnish museums over the last forty years
2018
The focus of this article is the development of Finnish museums since the 1970s, when the Ministry of Education started to understand the social benefits of museums as social memory organizations with activities of research and education. At this point in time the Ministry began actively developing the preconditions for museum work, the main ”tools” being several political museum committees which created a museum hierarchy and network, ensured state subsidy through museum acts, established university studies of museology, and gave support to the Finnish Museums Association.
Regionalna specjalizacja produkcji rolnej w Polsce
2016
Agriculture is a very specific sector of the economy, significantly different from other economic activities. One of the main distinguishing characteristics of agricultural production is its nature and strong dependence on the environmental conditions. These conditions determine to a large extent, the nature of agricultural production and its structure (crop/animal). The accession of Poland to the EU in 2004 and access to EU funds (subsidies for farmers under different EU programs) often were the cause of change in the current profile of farm activities. Therefore, it seems reasonable to examine the changes in the specialization of agricultural production in Poland after 2004. The aim of th…
On Subsidies in Trade Agreements
2008
When terms of trade externalities are the only source of cross-border inefficiencies, trade negotiators must negotiate market access only. Based on this principle, Bagwell and Staiger (2006) argue against the WTO subsidy rules. The present paper shows that their argument fails when trade agreements are required to be self-enforceable. By affecting output, subsidies impact the self-enforcement constraints, which, in turn, determine the policies of trade agreements. Consequently, trade agreements must include subsidy rules. In realistic scenarios, banning production subsidies is efficient while negotiating market access only is inefficient. In this sense, this paper makes a strong case for th…
Credit market failures and policy
2009
In a simple model of the credit market, based on Stiglitz-Weiss (1981), equilibria are computed and optimal policies to correct market failures are characterized. Some widely applied policies, notably interest-rate subsidies and investment subsidies, are compared to theoretical optimum, and an alternative optimal policy is described which we argue is more robust to model misspecification. An insight on the trade-off between credit policy and infrastructural investment is also offered. A discussion of some aspects of regional policy in Italy's Mezzogiorno is finally presented as an application of the analysis.
Young innovative companies (YICs) and entrepreneurship policy
2015
Abstract This study examines the features of young innovative companies (YICs) that enable their access to public policies in the form of subsidies. Through this analysis, the study determines the profile of YICs that receive public innovation aid. The study thus establishes whether governments design these innovation policies to adapt to the specific nature of YICs. Empirical analysis tests hypotheses for a sample of 189 YICs from the Valencian Region to analyze how the entrepreneur's features, the YICs themselves, and their sector relate to public innovation policies. The study also examines whether these variables act as moderating variables. Size of the YIC and the entrepreneur's sex si…