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Article

Luis Tineo

This paper focuses on the World Bank's emerging experience with a promising application of performance-based contracts: Output-Based Aid (OBA) subsidies. OBA is the…

Abstract

This paper focuses on the World Bank's emerging experience with a promising application of performance-based contracts: Output-Based Aid (OBA) subsidies. OBA is the provision of subsidies for the delivery of and access to social or infrastructure services. Under OBA, subsidy payments are tied to measurable performing outputs, leaving the specific methods of achieving these outputs to the service provider's discretion. While creating better risk allocation, more value for users and contracting agencies, and fewer opportunities for corruption than traditional methods, OBA schemes raise new procurement issues that need to be reconciled in order to achieve optimal results. An issue this paper explores is the tension between the need that contracts be "expenditure-based" with the "performance-based" nature of OBA subsidies.

Details

Journal of Public Procurement, vol. 7 no. 1
Type: Research Article
ISSN: 1535-0118

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Book part

Alejandro Serrano

In this chapter, I analyze the behavior of banks in Chile, Colombia, and Mexico between 2005 and 2014. With data from the regulatory institutions of these countries, I…

Abstract

In this chapter, I analyze the behavior of banks in Chile, Colombia, and Mexico between 2005 and 2014. With data from the regulatory institutions of these countries, I show the influence of their institutions on the performance of banks. The World Bank provides two main datasets that measure the institutional characteristics of each country. Their doing business data set computes the ease of doing business while the governance data set measures the effectiveness of government and the perception that people have of their own governments. The results show that voice and accountability, which is a variable that measures the ability of citizens to select their government and participate in society, has a strong effect in the performance of loans. However, these institutional variables seem to have little effect on the volatility of profits.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-78973-285-6

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Article

Khee Giap Tan, Mulya Amri and Nurina Merdikawati

The purpose of this paper is to propose a novel framework to measure ease of doing business (EDB) that undertakes a holistic approach incorporating three distinct…

Abstract

Purpose

The purpose of this paper is to propose a novel framework to measure ease of doing business (EDB) that undertakes a holistic approach incorporating three distinct environments: attractiveness to investors, business friendliness, and competitive policies (ABC). This is offered as an alternative to existing popular indicators of doing business (DB), allowing for better approximation of investment and economic growth at the sub-national level.

Design/methodology/approach

The proposed “EDB Index ABC” aggregates 74 indicators into five sub-environments, three environments, and ultimately into the overall EDB Index ABC. Values are standardised using the standardised score method. The framework is applied to 33 Indonesian provinces using a combination of primary data from surveying the business community and government departments as well as secondary data from formal government statistics.

Findings

The findings suggest a positive association between the proposed EDB Index ABC and competitiveness as well as investments into Indonesian provinces. In terms of explanatory power, attractiveness to investors and business friendliness seem to be stronger and more consistent, while the role of competitive policies is more ambiguous.

Originality/value

This research departs significantly from conventional approaches to the study of DB that tend to overwhelmingly focus on formal regulatory aspects by including macroeconomic factors such as market potential and infrastructure resilience as well as micro-level variables such as profitability and cost effectiveness, and the role of government in managing competition. Responding to calls for a bottom-up approach in understanding the EDB, the EDB Index ABC is applied to 33 Indonesian provinces.

Details

Cross Cultural & Strategic Management, vol. 25 no. 3
Type: Research Article
ISSN: 2059-5794

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Article

Khee Giap Tan, Sasidaran Gopalan and Will Nguyen

The purpose of this paper is to contribute to the literature by introducing a novel index that measures ease of doing business (EDB) at the sub-national level. The authors…

Abstract

Purpose

The purpose of this paper is to contribute to the literature by introducing a novel index that measures ease of doing business (EDB) at the sub-national level. The authors provide a comprehensive assessment of both de jure and de facto business conditions in 21 sub-national economies of India, with the help of a holistic framework that encompasses indicators capturing Attractiveness to Investors, Business Friendliness and Competitive Policies (ABC), the three broad environments that constitute the EDB–ABC index.

Design/methodology/approach

The authors’ index EDB–ABC index is constructed using 81 indicators. The index values reported are standardized scores and the framework is applied to 21 Indian sub-national economies. The bottom-up approach takes into account the various operational issues that firms face at the ground level, with the emphasis being on de facto issues. A unique feature of the index is its emphasis on collecting extensive survey data at the sub-national level, given that several constraints that businesses face lie under the purview of the sub-national governments. It also combines publicly available macroeconomic data through formal statistical publications.

Findings

The findings suggest a positive association between the proposed EDB–ABC index and competitiveness of as well as investments into Indian sub-national economies. In terms of explanatory power, the authors find that indicators capturing attractiveness to investors and business friendliness which are representative of de facto implementation issues at the sub-national matter more than de jure competitive policies. It is also striking that the results are in stark contrast to the existing doing business studies highlighting the importance of the comprehensiveness of the index.

Originality/value

Easing the impediments to doing business is a pre-requisite to enhance both domestic as well as foreign investments. Existing indicators on doing business provide an incomplete picture about the prevailing business conditions as the basis for such rankings are de jure regulations and not de facto. The authors depart from this tradition by dealing with both de jure and de facto business conditions using a combination of primary and secondary data at the sub-national level in India.

Details

South Asian Journal of Business Studies, vol. 7 no. 3
Type: Research Article
ISSN: 2398-628X

Keywords

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Book part

Michael Rigby, Shalmali Deshpande, Daniela Luzi, Fabrizio Pecoraro, Oscar Tamburis, Ilaria Rocco, Barbara Corso, Nadia Minicuci, Harshana Liyanage, Uy Hoang, Filipa Ferreira, Simon de Lusignan, Ekelechi MacPepple and Heather Gage

In order to assess the state of health of Europe’s children, or to appraise the systems and models of healthcare delivery, data about children are essential, with as much…

Abstract

In order to assess the state of health of Europe’s children, or to appraise the systems and models of healthcare delivery, data about children are essential, with as much precision and accuracy as possible by small group characteristic. Unfortunately, the experience of the Models of Child Health Appraised (MOCHA) project and its scientists shows that this ideal is seldom met, and thus the accuracy of appraisal or planning work is compromised. In the project, we explored the data collected on children by a number of databases used in Europe and globally, to find that although the four quinquennial age bands are common, it is impossible to represent children aged 0–17 years as a legally defined group in statistical analysis. Adolescents, in particular, are the most invisible age group despite this being a time of life when they are rapidly changing and facing increasing challenges. In terms of measurement and monitoring, there is little progress from work of nearly two decades ago that recommended an information system, and no focus on the creation of a policy and ethical framework to allow collaborative analysis of the rich anonymised databases that hold real-world people-based data. In respect of data systems and surveillance, nearly all systems in European society pay lip service to the importance of children, but do not accommodate them in a practical and statistical sense.

Details

Issues and Opportunities in Primary Health Care for Children in Europe
Type: Book
ISBN: 978-1-78973-354-9

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Aleksei V. Bogoviz, Anna V. Bodyako, Alexander A. Pochestnev, Natalia A. Medvedeva and Larisa O. Velikanova

The purpose of this chapter is to study the correlation of evolutional and revolutionary transformations in a socio-economic system in the conditions of the formation of…

Abstract

Purpose

The purpose of this chapter is to study the correlation of evolutional and revolutionary transformations in a socio-economic system in the conditions of the formation of an information economy by taking the example of modern Russia.

Methodology

To distinguish these transformations by studying the information economy, based on the materials of reports and recommendations of the OECD and the World Bank, the indicators that show macro-economic transformations in a socio-economic system in the conditions of formation of an information economy and their control values that correspond to evolutional and revolutionary changes were determined. During the research, the authors used the method of comparative analysis for comparing the values of the indicators in modern Russia with the control values of the indicators that show macro-economic transformations in the socio-economic system in the conditions of the formation of an information economy and classify the corresponding transformations as evolutional and revolutionary. The information and analytical basis includes the materials of the reports of the Higher School of Economics, the OECD, the World Bank, the International Telecommunication Union, the World Wide Web Foundation, the Digital single market, the INSEAD, the WIPO, and the Cornell University.

Results

As a result, it is concluded that the planned transformations in a socio-economic system in the conditions of formation of information economy by implementating the optimization model of this process have an evolutional characteristic. Herein, certain transformations have a revolutionary nature.

Recommendations

The authors determine that the largest revolutionary transformations are due for 2022–2025. However, their classification is caused not by high rate of growth of the indicators’ values but by their achievement of control values. Therefore, the largest socio-economic shifts in the economic system in the modern Russia due to the formation of an information economy will take place in 2019–2022. Hence, in this period, an anti-crisis management of this process should be conducted.

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Article

Biplab Kumar Guru and Inder Sekhar Yadav

The purpose of this paper is to examine the relationship between financial development and economic growth for five major emerging economies: Brazil, Russia, India, China…

Abstract

Purpose

The purpose of this paper is to examine the relationship between financial development and economic growth for five major emerging economies: Brazil, Russia, India, China and South (BRICS) during 1993 to 2014 using banking sector and stock market development indicators.

Design/methodology/approach

To begin with, the study first examined some of the principal indicators of financial development and macroeconomic variables of the selected economies. Next, using generalized method of moment system estimation (SYS-GMM), the relationship between financial development and growth is investigated. The banking sector development indicators used in the study include size of the financial intermediaries, credit to deposit ratio (CDR) and domestic credit to private sector (CPS), whereas the stock market development indicators are value of shares traded and turnover ratio. Also, some macroeconomic control variables such as inflation, exports and the enrolment in secondary education were used.

Findings

The examination of the principal indicators of financial development and macroeconomic variables have shown considerable differences between the selected economies. Results from the dynamic one-step SYS-GMM estimates confirm that in presence of turnover ratio, all the selected banking development indicators such as size of financial intermediaries, CDR and CPS are positively significantly determining economic growth. Similarly, in presence of all the selected banking sector development indicators, value of shares traded is found to be positively significantly associated with economic growth. However, the same is not true when turnover ratio is regressed in presence of banking sector variables. Overall, the evidence suggests that banking sector development and stock market development indicators are complementary to each other in stimulating economic growth.

Practical implications

A positive association between financial development and growth indicates that the policymakers should take necessary measures toward simultaneous development of both banking sector as well as stock market for inducing growth.

Originality/value

The present paper attempts to examine the relationship between financial development and growth using both banking sector and stock market development indicators which has not been attempted before for BRICS. Also, most of the existing studies are found in case of developed economies. This paper tries to fill this void by studying five major emerging economies.

Details

Journal of Economics, Finance and Administrative Science, vol. 24 no. 47
Type: Research Article
ISSN: 2077-1886

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Article

Cristina Ruza, Marta de la Cuesta-González and Juandiego Paredes-Gazquez

The purpose of this paper is to empirically appraise the health of banking systems by applying a new theoretical framework based on resilience and stability…

Abstract

Purpose

The purpose of this paper is to empirically appraise the health of banking systems by applying a new theoretical framework based on resilience and stability simultaneously. In line with complex system theories, the authors will consider the dynamics of the banking system as a whole, analysing not only banks individually but also the broad environment in which they operate. For doing so, the authors propose a composite indicator (CI) for analysing the resilience and stability of banking systems of developed countries. The main purpose of the indicator is not to make predictions on future banks’ behaviour, but rather to use it as a tool for appraising the overall health of the most salient banking systems.

Design/methodology/approach

The authors have designed a theoretical framework of resilience and stability taking into account the review of previous literature. The authors have identified the main factors underlying these two concepts that can be appraised as complementary targets. The authors have applied multiple factor analyses to identify the main determinants of banks’ resilience and stability, and the authors have constructed a CI giving different weights to the relevant dimensions previously identified. The authors have tried different model specification and the authors have chosen the simplest model that render better empirical results. The authors construct the resilience and stability indicator for the group of G7 countries, Spain and Portugal, from 2004 up to 2015.

Findings

First, resilience–stability indicators for the group of countries analysed reveal quite different patterns in the aftermath of the financial crises. While some countries have improved its relative position within the ranking, the authors find others evolving just in the opposite direction. Second, the relative position of countries in terms of the resilience–stability indicator allows the authors to identify Canada and the USA as examples of best practices. Third, by analysing countries individually the authors will be better able to identify potential weakness and areas for improvement in each case.

Practical implications

The evolution of the resilience and stability indicator will serve as an early warning system for policy makers and supervisors in identifying signs of weakness, as well as a useful tool to identify the best practices. Furthermore, this indicator will allow to better assessing the potential vulnerability of banking systems in the advent of a forthcoming crisis. Therefore, this measurement should not be interpreted as an absolute value but as a warning signal of potential weakness in each case.

Originality/value

The main contribution of this paper to the existing literature is that it introduces a new reconceptualization of the health of the banking system in line with complex theories. The theoretical background is based on a comprehensive framework of resilience and stability as complementary targets. The CI summarises into a single figure a multidimensional concept like resilience and stability. The variables that the authors have used for the construction of the indicator have been validated by applying multiple factor analysis. The authors have empirically appraise the resilience and stability of a group of advanced economies that encompass the group of the more developed countries in the world and the two European cases that have receive financial support in order to see if there are remarkable differences.

Details

Journal of Economic Studies, vol. 46 no. 6
Type: Research Article
ISSN: 0144-3585

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Article

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

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Article

Kamla Ali Al-Busaidi

Information and communications technology (ICT) is the driving force and key enabler of a knowledge economy. The purpose of this study is to identify the critical ICT…

Abstract

Purpose

Information and communications technology (ICT) is the driving force and key enabler of a knowledge economy. The purpose of this study is to identify the critical ICT indicators that foster the development of the knowledge economy and its main pillars (education, innovation and economic and institutional regimes) in Oman.

Design/methodology/approach

The study used a qualitative approach and conducted four Delphi studies on four groups of experts (ICT experts, educators, innovation experts and economists) in Oman.

Findings

The results indicated that the most commonly top-listed ICT indicators of a boost in the country’s knowledge economy are related to the national level (total research and development expenditure on ICT, ICT patents as a percentage of national total and ICT as an overall priority for the government), firm level (the proportion of businesses using the internet, the proportion of businesses using computers and the proportion of businesses with a Web presence), and inhabitant level (mobile phone subscribers per 100 inhabitants, internet subscribers per 100 inhabitants and personal computers per 100 inhabitants).

Originality/value

ICT is the driving pillar of a knowledge economy. The literature indicated that most of the ICTs for development studies are conducted in developed countries; hence, there is a great need for investigations in the context of less developed economies such as Oman. This study can provide insights for the country on how to develop and exploit ICT to boost the development of the overall knowledge economy and its pillars and to provide guidance for exploiting ICT to gain economic value. Oman’s vision for 2020 and 2040 aims at economic diversification; the knowledge economy is a critical aspect of the country’s economic diversification. In addition, the literature indicated that the relationship between ICT and development is still not clear; hence, this study provided some insights into the context of knowledge economy development.

Details

VINE Journal of Information and Knowledge Management Systems, vol. 50 no. 4
Type: Research Article
ISSN: 2059-5891

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