Sophisticated Discipline in Nascent Deposit Markets: Evidence from Post-Communist Russia

Using a database from post-communist, pre-deposit-insurance Russia, we demonstrate the presence of quantity-based sanctioning of weaker banks by both firms and households, particularly after the financial crisis of 1998. Evidence for the standard form of price discipline, however, is notably weak. Estimating the deposit supply function, we show that, particularly for poorly capitalized banks, interest rate increases exhibit diminishing, and eventually negative, returns in terms of deposit attraction, a finding consistent with depositors interpreting the deposit rate itself as a signal of otherwise unobserved bank-level risk.http://deepblue.lib.umich.edu/bitstream/2027.42/57209/1/wp829 .pd

A Review of the Major School Counseling Policy Studies in the United States: 2000-2014

Jay Carey and Ian Martin conducted a review of the major policy studies concerning school counseling in the United States. The authors located 37 documents disseminated between 2000 and 2014 that were either intentionally written with a focus on policy implications or were frequently used to attempt to influence policy decision-making. Their review is organized by types of policy studies: Literature Reviews, Survey Research, Statewide Evaluations of School Counseling Programs, State Evaluations of School Counseling Practice, Existing Database Investigations of School Counseling, Research Identifying Elements of Exemplary Practice, Studies of Evaluation Capacity and Practices in School Counseling

Determinants of Employment Growth at MNEs: Evidence from Egypt, India, South Africa and Vietnam

Foreign investors are expected to contribute to economic development through a variety of channels. However, many foreign investment operations are small, and almost insignificant in their impact on the local environment. An important indication of the potential contribution of foreign investors is thus their employment growth. Employees working for, and trained by, a multinational enterprise may become carriers of new technology and business practices. The more employees receive access to new knowledge, the more they in turn may spread the knowledge across the economy, for instance by setting up their own businesses. In this paper, we make a first step in investigating the determinants of this important mediating variable, employment growth. For a dataset covering four diverse emerging economies, we find that wholly-owned FDI operations have higher employment growth, while local industry characteristics moderate the growth effect.http://deepblue.lib.umich.edu/bitstream/2027.42/40093/3/wp707.pd

Sophisticated Discipline in Nascent Deposit Markets: Evidence from Post-Communist Russia

Using a database from post-communist, pre-deposit-insurance Russia, we demonstrate the presence of quantity-based sanctioning of weaker banks by both firms and households, particularly after the financial crisis of 1998. Evidence for the standard form of price discipline, however, is notably weak. Estimating the deposit supply function, we show that, particularly for poorly capitalized banks, interest rate increases exhibit diminishing, and eventually negative, returns in terms of deposit attraction, a finding consistent with depositors interpreting the deposit rate itself as a signal of otherwise unobserved bank-level risk.banking, market discipline, deposit market, transition, Russia

Sophisticated Discipline in Nascent Deposit Markets: Evidence from Post-Communist Russia

In nascent markets with relatively immature institutions, do depositors have the capacity to discipline banks with poor fundamentals? If so, what information specifically guides their response? Using a database from post-communist, pre-deposit-insurance Russia, we present evidence for quantity-based sanctioning of weaker banks by both firms and households, particularly after the 1998 financial crisis. More notably, the discipline that we observe is surprisingly sophisticated. Specifically, our evidence is consistent with the proposition that depositors interpret a bank’s deposit rate and capital as jointly reflecting its subsequent stability. In estimating a deposit supply function, we show that, particularly for poorly capitalized banks, interest rate increases run into diminishing, and eventually negative, returns in terms of deposit attraction.banking, market discipline

Sophisticated discipline in a nascent deposit market: Evidence from post-communist Russia

Using a database from post-communist, pre-deposit-insurance Russia, we demonstrate the presence of quantity-based sanctioning of weaker banks by both firms and households, particularly after the financial crisis of 1998. Evidence for the standard form of price discipline, however, is notably weak. We estimate the deposit supply function and show that, particularly for poorly capitalized banks, interest rate increases exhibit diminishing, and eventually negative, returns in terms of deposit attraction. These findings are consistent with depositors interpreting the deposit rate itself as a complementary proxy of otherwise unobserved bank-level risk.market discipline; deposit market; transition; Russia

Bank-Level Estimates of Market Power

The aim of this study is to provide an empirical methodology for the estimation of market power of individual banks. The new method employs the well-known model of Panzar and Rosse (1987) and proposes its estimation using the local regression technique. Thus, a number of restrictive assumptions regarding the properties of the production function of banks are relaxed, while the method proves successful in providing reasonable estimates of bank-level market power when applied to a large panel of banks of transition countries. The empirical results suggest that many banks in the sample deviate significantly from competitive practices and that market power varies substantially across banks in each country. Country averages of the bank-level results exhibit a very close relationship with standard, industry-level Panzar-Rosse estimates.Bank output; Market power; bank-level; local regression

Determinants of Employment Growth at MNEs: Evidence from Egypt, India, South Africa and Vietnam

Foreign investors are expected to contribute to economic development through a variety of channels. However, many foreign investment operations are small, and almost insignificant in their impact on the local environment. An important indication of the potential contribution of foreign investors is thus their employment growth. Employees working for, and trained by, a multinational enterprise may become carriers of new technology and business practices. The more employees receive access to new knowledge, the more they in turn may spread the knowledge across the economy, for instance by setting up their own businesses. In this paper, we make a first step in investigating the determinants of this important mediating variable, employment growth. For a dataset covering four diverse emerging economies, we find that wholly-owned FDI operations have higher employment growth, while local industry characteristics moderate the growth effect.MNE, employment growth, control, institutions, FDI policy

Leveraging Wireless Broadband to Improve Police Land Mobile Radio Programming: Estimating the Resource Impact

Despite rapid growth in criminological studies of police technology, examinations of police land mobile radios are absent in the literature. This is troubling given the central role mobile radios serve in police operations and their significant management costs. The present study seeks to fill this gap by introducing the functionality of wireless broadband radio programming. Current practice requires a police officer to physically drive to a radio programming location to manage their mobile radio. Wireless programming remedies this burdensome reality, thereby saving officer time and cost. Geospatial analyses are used to estimate distance saved associated with wireless programming. We then conduct a number of calculations to determine time and cost savings related to the observed differences between existing and wireless radio programming within the context of the North Carolina State Highway Patrol. Results suggest wireless radio programming can save significant personnel and financial resources. Implications are discussed

An Investigation of Firm-Level R&D Capabilities in East Asia

This paper uses a survey of 1,826 firms distributed over ten East Asian metropolitan areas – Jakarta, Kuala Lumpur, Manila, Seoul, and five Chinese cities – to investigate the sources of firm-level R&D capabilities. The analysis identifies the impact of 23 survey variables, classified by openness, human capital, R&D network, and institutional quality, on the efficiency of firm R&D operations and on overall firm performance. These firmlevel results are used to construct composite measures R&D capabilities for each of the 10 metropolitan economies. Using the firm samples, returns to R&D are also estimated for each of the metropolitan areas. Where cross economy comparisons are possible, as they are for Seoul and the five Chinese cities, we find a strong association between overall R&D productivity in these city economies and the composite measures of citywide R&D capabilities. In particular, high composite measures in Seoul and Shanghai are associated with high returns to R&D in those cities. The large productivitywage gaps in the Chinese cities appear to be attracting large and visible investment in R&D operations. Whether R&D wages rise to narrow this gap or investment and technology flows continue to sustain the gap will substantially affect the pattern of R&D operations within the Asian region.http://deepblue.lib.umich.edu/bitstream/2027.42/39969/3/wp583.pd