ISSN: 2310-2799
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546,196 artículos
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Año:
2022
ISSN:
2254-4380
Pattichis, Charalambos
Oviedo University Press
Resumen
Tax revenue elasticities are an important parameter in the management of the revenue side of the government budget as they provide information about the impact of economic growth on tax revenues and fiscal sustainability. A growing number of empirical studies have estimated such elasticities or buoyancies for different countries using various methods. This paper follows a novel approach of deriving tax revenue elasticities that are consistent with a balanced budget for six Central and Eastern European countries using data over the period 1995-2019. These derived elasticities were then compared to actual estimates reported in other studies. The main conclusion from this comparison is that, for most cases considered, tax revenues were responsive enough to economic growth to support fiscal sustainability.
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Año:
2022
ISSN:
2254-4380
Kreutzer, Fabian; Berger, Wolfram
Oviedo University Press
Resumen
We use plant-level evidence for Germany to explore the productivity effects of offshoring of small and medium-sized enterprises (SME) and compare them to those derived for a sample of large companies. SMEs usually face tighter resource constraints than larger companies, thus making it harder for them to reap the potential productivity gains associated with offshoring. We find evidence for the group of SMEs that plants that offshore business activities tend to be among the more productive ones, ex ante. However, offshoring plants lose this edge over their non-offshoring counterparts. The initial productivity gap is reversed, and the productivity of offshoring plants lags behind even several years after offshoring has actually taken place. Neither observation can be confirmed for large companies.
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Año:
2022
ISSN:
2254-4380
Huynh, Toan Luu Duc; Duong, Duy
Oviedo University Press
Resumen
By drawing the monthly data of 33 advanced economies in 2020, this paper explores the effectiveness of government responses and the level of democracy in containing the COVID-19 spread. Our results show that the government responses effectively ‘flatten the curve’ of infected cases and death cases. Concomitantly, the higher level of democracy simultaneously contributes the joint effect with government responses to the lower association with the number of infected cases in these countries. However, it is more noticeable that this effect does not persist or significantly exhibit heterogeneous effects. These two aforementioned points contribute a shred of empirical evidence to the existing literature about the COVID-19 studies. Therefore, our study has some relevant policy implications.
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Año:
2022
ISSN:
2254-4380
Olopade, Oluwaseyi; Simo-Kengne, Beatrice Desiree; Ohonba, Abieyuwa
Oviedo University Press
Resumen
Shifts from firm-level investment efficiency occur due to market imperfections and informationasymmetry. This translates to an increased cost of capital, which leads to over or under-investments. This study demonstrates the absence of a direct association between investmentefficiency and financial constraints in African firms, complementing the efficient markethypothesis. We observed firms across different industries listed on the JSE from 2009 to 2019.Empirical results from panel data analysis reveal that financial constraints drive improvedinvestment levels and firms in this region depend on external funds – specifically credits – toinvest.
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Año:
2022
ISSN:
2254-4380
Russell, Levi; Hall, Josh
Oviedo University Press
Resumen
Right-to-farm laws started in the 1970s. In 2014, Missouri residents voted on a right-to-farm constitutional amendment that gave farmers constitutional protection from nuisance suits related to agricultural production. The Amendment passed 50.12% to 49.88%. We use an empirical median voter model on county-level voting data to analyze the determinants of yes voting. We find that an increased presence of agricultural interests in a county as measured by head of cattle, acres planted, and % employed in agriculture were associated with a higher percentage of yes votes. Our results highlight the importance of widespread farm interests obtaining constitutional projections for farming.
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Año:
2022
ISSN:
2254-4380
Sharma, Anand; Sharma, Vipin; Tokas, Shekhar
Oviedo University Press
Resumen
This paper examines the effect of the quality of economic institutions on health outcomes for the E.U. countries from 2000 to 2018. Using data from the World Bank and the Fraser Institute, the paper uses fixed effects and random effects models to investigate the relationship between institutional quality and health. The results suggest that an improvement in the quality of economic institutions has a favourable effect on health. Specifically, the results highlight that an efficient legal system, a stable macroeconomic environment, and fewer regulations improve health outcomes in the E.U. countries. The paper also finds that higher per capita income, increase in education, and faster urbanization enhance health outcomes.
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Año:
2022
ISSN:
2254-4380
Faria, Samuel; Gouveia, Sofia; Rebelo, João
Oviedo University Press
Resumen
The computation of productive efficiency provides key insights for firm managers and policymakers towards improvements in the competitiveness of businesses and industries, namely those that observe firm heterogeneity and high competition, as is the case of wine. Benefiting from Portuguese wineries panel data, this research measures firms’ productive efficiency, decomposing it into transient and persistent. Results allow us to conclude that wineries can boost overall performance through better input management and long-term policies, such as improvements in market regulation and public firm support.
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Año:
2022
ISSN:
2254-4380
O'Leary, Daragh; Doran, Justin; Power, Bernadette
Oviedo University Press
Resumen
Using a novel self-reported measure competitive intensity and four distinct forms of innovation (product, process, marketing and organisational) from the European Commission Flash Eurobarometer 433 dataset, this paper comprehensively identifies the impact of competitive pressure on firm innovation for four broad sectors of the economy. A logit model by innovation type is used to estimate the impact of the intensity of competition on the firm’s decision to innovate. Firm reported intensity of competition is found to have a positive impact on product and market innovation. Significant heterogeneities exist in the impact of minor and major degrees of competition across innovation types and sectors supporting both Arrow’s (1962), and to a lesser degree Schumpeter’s (1943), perspectives on this relationship.
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Año:
2022
ISSN:
2254-4380
Christian Espinosa-Méndez
Oviedo University Press
Resumen
This investigation is the first to analyze how civil unrest impacts the performance of companies. Using a panel composed of 99 non-financial firms listed on the Santiago de Chile Stock Exchange during the period between the first quarter of 2017 and 2020 we find that civil unrest negatively impacts firm performance. This effect is asymmetric among the different industrial sectors with the Trade and Industrial sectors being the most adversely affected. On the other hand, the Agriculture-fishing and Utilities sectors show a better performance.
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Año:
2022
ISSN:
2254-4380
Karadima, Maria; Louri, Helen
Oviedo University Press
Resumen
Following the financial and debt crises in the euro area and the global COVID pandemic, governments supported their economies by increasing borrowing and accumulating debt with ambiguous long-run effects on non-performing loans (NPLs). We empirically investigate the determinants of NPLs using quarterly (2003Q1-2020Q2) aggregate data for Greece and applying the autoregressive distributed lag (ARDL) bounds testing approach. We offer new policy-making relevant evidence by showing that government debt has a significant and positive long-term impact on NPLs irrespective of possible short-term dynamics that appear to provide a temporary relief. Fiscal balance, on the contrary, exerts a negative long-term effect justifying the quest for surpluses post-COVID.
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