Search results

Purpose – This chapter examines the interactions among wholesale betel nut traders within Papua New Guinea’s (PNG’s) flourishing, contemporary, and indigenous betel nut trade. It explores the nature of the “social embeddedness” of the trade and how particular “place-based” practices and ideas shape people’s engagements with markets.Methodology/approach – Multisited ethnographic research focused on betel nut traders.Findings – This chapter highlights how local ideas about sociality and exchange shape the copresent rivalry and companionship that characterize interactions among Mt. Hagen’s betel nut traders. Traders travel long distances and take great risks to buy betel nut. They travel together, share resources, and trade in the same places, and through this they become part of one another’s social networks. This creates the expectation that traders will cooperate, consider other traders in their actions, contribute to each other’s safe-keeping, and act collectively in their interactions with producers. This does not preclude competition, however. Traders compete for profits, but the competiveness of their interactions is also influenced by a concern for status. This copresence of companionship and rivalry, which pervades Hagen sociality more broadly, is central to shaping the trade as a whole.Originality/value of the chapter – Betel nut is the most important domestic cash crop in PNG, and selling betel nut is a prominent livelihood activity for rural and urban people. This chapter reports some of the findings of the first detailed study of the betel nut trade in PNG.

The purpose of this chapter is to benchmark Tunisia against other emerging economies in terms of the regulatory barriers affecting particular services sectors and to assess the economy-wide effects of further liberalizing these services trade restrictions, compared with reducing the dispersion in barriers to its merchandise trade. On the basis of a rather restricted sample of services sectors, partial regulatory reform would yield gains roughly equivalent to full unilateral reform of manufacturing tariffs, but roughly one-tenth the gains from full bilateral reform of border protection in agriculture with the European Union. The adjustment costs associated with these services trade reforms would be minimal. The chapter identifies the reasons why the gains from these services reforms are relatively small and argues that a wider set of reforms could provide win-win outcomes and even fewer adjustment costs. By contrast, the gains in agriculture and manufacturing tend to come at the expense of domestic output in the reforming sectors – the gains are greater, but so too are the adjustment costs.

During the crisis, the Greek labor market went through major changes in terms of employment, unemployment and wages. The economic activity registered a cumulative decline of around 25%, weighting heavily on the labor market. The unemployment rate showed a substantial increase, with signs of persistence and the employment rate fell substantially. Utilizing a unique dataset, the European Union Structure of Earnings Survey (SES) the paper examines the evolution of wages over the period 2010–2014. During that period, the economic adjustment programs to deal with the chronic deficiencies of the Greek economy and restore sustainable public finances, to gain competitiveness and set the foundation for long-term growth, were implemented. Data refer to 2010, when the first elements of the program were beginning to be executed, and to 2014 when the crisis had already unfolded. Results point to a reduction of average wages across industries, even after controlling for personal and workplace characteristics. Amid a wage decrease at the mean, there is evidence of a divergent wage evolution between sectors of economic activity during the crisis. Furthermore, we find that wage premia that have persisted in the Greek economy during the same period are not disproportionately captured by employees at the upper end of the conditional wage distribution.

The purpose of this paper is to demonstrate that the conjecture that worker cooperatives (firms that practice participatory management and share profits broadly) suffer a competitive disadvantage relative to conventional firms is not supported by existing empirical research. It also considers alternative explanations for why such cooperatives are rare.

Historical analysis, literature survey, and survival analysis.

Studies of worker cooperatives in a variety of national settings indicate their failure rate is lower than conventional firms at least in the short and medium term. This contradicts the proposition that they are rare because they suffer a competitive disadvantage and focuses attention instead on their low formation rate.

The “liability of newness,” wealth and credit constraints, entrepreneurial rents, and collective action problems are cited as important barriers for the creation of worker cooperatives de novo, but these factors should be greatly reduced for those created through the conversion of an existing firm. Paradoxically, the overwhelming majority of cooperatives are created from scratch, and hence this explanation remains incomplete.

Existing policies incentivizing the creation of worker cooperatives, and current initiatives to promote them, do not encourage the creation of inferior economic institutions.

This paper contradicts the widely held belief that the distinctive features of worker cooperatives (participatory management and broadly shared profit) place them at a competitive disadvantage in a market economy. It also provides insight into why cooperatives are rare by challenging explanations based in presumed inefficiencies and focusing attention instead on barriers to creation.

At the time of its demise in 2001, the Enron Corporation could boast of its comprehensive, state-of-the-art management control and governance systems. Yet these controls were rendered ineffective in the company's last few years. This article identifies the radical change in Enron's corporate culture that took place from the Lay-Kinder era (1986–1996) to the Lay-Skilling era (1997–2001). It argues that this was a major cause of neutralizing these controls, which in turn proved to be a major factor in Enron's fall into bankruptcy. The article draws on Schein's (1993, Legitimating clinical research in the study of organizational culture, Journal of Counselling and Development, 71, 703–708; 1996, 2004) framework of cultural practice to develop our analysis. Thus, it supports Simon's (1990, 1995) urging to more meaningfully include corporate culture in management control research studies. The article contributes to the literature by drawing attention to the rich but untold story of Enron's governance and control and also extends the research linking corporate culture and control systems.

This study consists of an examination of productivity growth following three major technological breakthroughs: the steam power revolution, electrification and the ICT revolution. The distinction between sectors producing and sectors using the new technology is emphasized. A major finding for all breakthroughs is that there is a long lag from the time of the original invention until a substantial increase in the rate of productivity growth can be observed. There is also strong evidence of rapid price decreases for steam engines, electricity, electric motors and ICT products. However, there is no persuasive direct evidence that the steam engine producing industry and electric machinery had particularly high productivity growth rates. For the ICT revolution the highest productivity growth rates are found in the ICT-producing industries. We suggest that one explanation could be that hedonic price indexes are not used for the steam engine and the electric motor. Still, it is likely that the rate of technological development has been much more rapid during the ICT revolution compared to any of the previous breakthroughs.

This chapter uses quarterly county-level data from 2006 to 2014 to examine the direction of causality in the relationship between per capita opioid prescription rates and employment-to-population ratios. We first estimate models of the effect of per capita opioid prescription rates on employment-to-population ratios, instrumenting opioid prescriptions for younger ages using opioid prescriptions to the elderly. We find that the estimated effect of opioids on employment-to-population ratios is positive but small for women, while there is no relationship for men. We then estimate models of the effect of employment-to-population ratios on opioid prescription rates using a shift-share instrument and find ambiguous results. Overall, our findings suggest that there is no simple causal relationship between economic conditions and the abuse of opioids. Therefore, while improving economic conditions in depressed areas is desirable for many reasons, it is unlikely on its own to curb the opioid epidemic.